Respuesta :

Answer:

Step-by-step explanation:

Principal(p) =$500

Time(t) = 2years

Rate(r) = 8% p.a.

Simple Interest = (p*r*t)/100

                         = ($500*8*2)/100

                         = $80

Accumulated amount = principle + Interest for 1st year+ Interest for 2nd yr                      

                                    =$500+$80+$80

                                    = $660

TheUnknownScientist

Answer:

The accumulated amount is $660

Step-by-step explanation:

Given;

  • Principal amount (P) = $500
  • Time (T) = 2 years
  • Rate (R) = 8%

To Find;

  • Simple Interest (SI)

Formula;

  • SI = PTR ÷ 100

So,

SI = PTR/100

SI = 500 × 2 × 8 ÷ 100

SI = 5 × 2 × 8

SI = $80 (for 1st year)

For accumulate amount

$500 + $80 + $80 = $660

Thus, The accumulated amount is $660

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