Answers

2014-12-27T13:37:54+05:30
principle = $2500
rate = 7.5 %
time = 3 years
simple interest = (principle  × rate × time)÷100
= (2500 × 75 × 3)÷(100×10)
= $562.5
amount = principle + simple interest
= $2500 + $562.5
= $ 3062.5
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2014-12-27T17:51:20+05:30
Let the principal be = P = 2500
                     Time  = t = 3
          Rate of Interest = 7.5%= 7.5/100
Balance after three years = P ( 1+ rt)
                                         = 2500 ( 1+ 7.5*3/100)
                                         = 3065.5
Cortez's balance would be  $ 3065.5
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