%3Col%20start%3D%227%22%26nbsp%3Bstyle%3D%22margin%3A%26nbsp%3B1em%26nbsp%3B1em%
ID: 2844380 • Letter: #
Question
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/ Answer
Given,
Principal = $100000
Time = 30 years
Rate of Interest = 9%
Assuming Simple Interes, SI to be paid = P*R*T/100
= 100000*30*9/100 = $270000
Amount = 100000 + 270000 = $370000
Money to be paid each year = 270000/30 = $9000
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