Peter invests 5,000 $a t$ 42$ months?

5323.66

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5033.33

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5066.33

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5343.67

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Solution

The correct option is B 5033.33
If the principal amount is $p$ , annual interest is $r$ $%$ then for simple interest after $n$ years the amount will be $p (1 + \frac{n r}{100})$ .
Here $p = 5000$ , $n = \frac{1}{6}$ , $r = 4$ $%$
So, the amount after $2$ months is $5000 (1 + \frac{2}{300}) = 5000 (\frac{151}{150}) = 5033.33$

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Peter invests 5,000at42$ months?

The correct option is B 5033.33If the principal amount is p, annual interest is r % then for simple interest after n years the amount will be p(1+nr100).Here p=5000, n=16, r=4 %So, the amount after 2 months is 5000(1+2300)=5000(151150)=5033.33

Peter invests 5,000 $a t$ 42$ months?