How much simple interest is earned on $4,558.35 at an interest rate of 3.2% in 9 years?
2 answers:
Answer:
=$ 1,312.80
Step-by-step explanation:
Simple interest is given by the formula PRT/100
Where P is the principal amount, R is the interest rate and T is the interest period in years.
= ($ 4,558.35 × 3.2 ×9)/100
=$ 1,312.80
1,312.80 would be your answer. The formula used to solve this would be I=PRT where p represents your starting amount deposited and r is your rate of interest and t is your time in years
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