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Question 1 (1 point) The yearly interest payable on a deposit of $250 at 5.5% p.a. simple interest is: A $137.50 B $13.75 C $12.50 D $125.00 E $17.35 los​

Respuesta :

harley345

Answer:

B: $13.75

Step-by-step explanation:

5.5% of $250 = $13.75

Therefore, the simple interest is $13.75.

akposevictor

The simple interest payable on a deposit of $250 yearly at 5.5% per annum is: B. $13.75

Recall:

  • Simple Interest formula is given as: [tex]\mathbf{S.I = \frac{P \times R \times T}{100} }[/tex]
  • P = Principal (initial amount)
  • R = interest rate
  • T = duration

Given:

P = $250

R = 5.5%

T = 1

The yearly interest payable on $250 would be:

[tex]S.I = \frac{250 \times 5.5 \times 1}{100}\\\\\mathbf{S.I = \$13.75}[/tex]

Therefore, the simple interest payable on a deposit of $250 yearly at 5.5% per annum is: B. $13.75

Learn more here:

https://brainly.com/question/19550248

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