The Sydney's are planning a home renovation that will cost $30000. They have saved a...
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Accounting
The Sydney's are planning a home renovation that will cost $30000. They have saved a principal amount of $10000 and they hope to invest it for 30 months till to get the amount needed for the renovation. Using simple interest, if interest is calculated monthly, at what interest rate do they have to invest their principal amount for the next 30 months to get the $30000 they need for their renovation? 44.76% 3.73% 35.24% 80.00% None of the above
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