Find the accumulated value of the deposit $2500 made in simple interes

1.	Find the accumulated value of the deposit $2500 made in simple interest for 3.5 years at 5% rate of interest per year. !! NO SPAMMING !!
Answer» align="absmiddle" alt="{\HUGE{\underline{\BF{Solution:}}}}" class="latex-formula" id="TexFormula1" src="https://tex.z-dn.net/?f=%7B%5Chuge%7B%5Cunderline%7B%5Cbf%7BSolution%3A%7D%7D%7D%7D" title="{\huge{\underline{\bf{Solution:}}}}"> $\begin{gathered} \\ \end{gathered}$ Given: Principal = $2500 TIME in years = 3.5 Rate of INTEREST = 5% $\begin{gathered} \\ \end{gathered}$ To find: $\begin{gathered} \\ \end{gathered}$ Accumulated Value $\begin{gathered} \\ \end{gathered}$ Solution: $\begin{gathered} \\ \end{gathered}$ To find the simple interest, we use the formula: $\multimap \: \boxed{ \sf Simple\:Interest = \dfrac{PRT}{100}}$ Where, P = Principle R = Rate of Interest T = Time (years) $\begin{gathered} \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{PRT}{100} \\ \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{2500 \times 5 \times 3.5}{100} \\ \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{25 \cancel{00} \times 5 \times 3.5}{1 \cancel{00}} \\ \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = 25 \times 5 \times 3.5 \\ \\ \end{gathered}$ $\colon \implies\underline{ \boxed{ \bf{ \red{Simple\:Interest = 437.50}}}} \: \bigstar$ $\begin{gathered} \\ \end{gathered}$ Accumulated value is nothing but Amount. Hence, to find Amount, we use the formula: $\begin{gathered} \\ \end{gathered}$ $\multimap \: \boxed{ \sf Amount = P+I}$ Where, P = Principal I = Simple Interest $\begin{gathered} \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Amount = P+I \\ \\ \end{gathered}$ $\begin{gathered} \colon \longrightarrow \sf \: Amount = 2500+437.50 \\ \\ \end{gathered}$ $\colon \implies\underline{ \boxed{ \bf{ \green{Amount= 2937.50}}}} \: \bigstar$ Hence, the accumulated value is 2937.50

Find the accumulated value of the deposit $2500 made in simple interest for 3.5 years at 5% rate of interest per year. !! NO SPAMMING !!

Answer»

align="absmiddle" alt="{\HUGE{\underline{\BF{Solution:}}}}" class="latex-formula" id="TexFormula1" src="https://tex.z-dn.net/?f=%7B%5Chuge%7B%5Cunderline%7B%5Cbf%7BSolution%3A%7D%7D%7D%7D" title="{\huge{\underline{\bf{Solution:}}}}">

$\begin{gathered} \\ \end{gathered}$

Given:

Principal = $2500
TIME in years = 3.5
Rate of INTEREST = 5%

$\begin{gathered} \\ \end{gathered}$

To find:

$\begin{gathered} \\ \end{gathered}$

Accumulated Value

$\begin{gathered} \\ \end{gathered}$

Solution:

$\begin{gathered} \\ \end{gathered}$

To find the simple interest, we use the formula:

$\multimap \: \boxed{ \sf Simple\:Interest = \dfrac{PRT}{100}}$

Where,

P = Principle
R = Rate of Interest
T = Time (years)

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{PRT}{100} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{2500 \times 5 \times 3.5}{100} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{25 \cancel{00} \times 5 \times 3.5}{1 \cancel{00}} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = 25 \times 5 \times 3.5 \\ \\ \end{gathered}$

$\colon \implies\underline{ \boxed{ \bf{ \red{Simple\:Interest = 437.50}}}} \: \bigstar$

$\begin{gathered} \\ \end{gathered}$

Accumulated value is nothing but Amount. Hence, to find Amount, we use the formula:

$\begin{gathered} \\ \end{gathered}$

$\multimap \: \boxed{ \sf Amount = P+I}$

Where,

P = Principal
I = Simple Interest

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Amount = P+I \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Amount = 2500+437.50 \\ \\ \end{gathered}$

$\colon \implies\underline{ \boxed{ \bf{ \green{Amount= 2937.50}}}} \: \bigstar$

Hence, the accumulated value is 2937.50