**Interest = F×d×t**

where F= Final amount

d= discount rate

t= time(in years)

given- F=10500, d=10%= 0.1, t=12/12 =1 yr

i = 10500 × 0.1 × 1

= 1050

**Proceeds(pr) = F - i**

where F = Final amount

i = interest

pr = 10500 - 1050 = 9450 → final answer

**Interest = F×d×t**

where F= Final amount

d= discount rate

t= time(in years)

given- F=10500, d=10%= 0.1, t=12/12 =1 yr

i = 10500 × 0.1 × 1

= 1050

**Proceeds(pr) = F - i**

where F = Final amount

i = interest

pr = 10500 - 1050 = 9450 → final answer

Didn't find the answer you were looking for?