Answer:
$1105
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4.25%/100 = 0.0425 per year,
then, solving our equation
I = 6500 × 0.0425 × 4 = 1105
I = $ 1,105.00
The simple interest accumulated
on a principal of $ 6,500.00
at a rate of 4.25% per year
for 4 years is $ 1,105.00.
