Kristina received R125 for her birthday. Her parents offered to pay her 4.25% simple interest per year if she would save it for at least one year. How much interest could Kristina earn in a year? What will be the total amount after 5 years?
Added by Eddie B.
Step 1
The formula for simple interest is I = PRT, where I is the interest, P is the principal amount (the initial amount of money), R is the rate of interest, and T is the time in years. In this case, P = R125, R = 4.25% (or 0.0425 in decimal form), and T = 1 Show more…
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