Answer: 4,335
Step-by-step explanation:
To calculate max interest, we simply us the simle interst formular;
Simple interest = P × R ×T / 100
where p= principal
R = Rate
T= time (in years)
principal = 17, 000 Rate = 5. 1 and the time= 5
Simple interest =P × R ×T / 100
= 17000 × 5. 1 ×5 / 100
(The two zeros at the denominator will cancel two of the zeros at the numerator)
simple interest = 170 × 5. 1 × 5
=4335
Therefore the pay in interest is 4335
