Answer:
$4,221.00 for online and 6,210.00 for the instore
Step-by-step explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4.2%/100 = 0.042 per year.
Solving our equation:
A = 6700(1 + (0.042 × 15)) = 10921
A = $10,921.00
The total amount accrued, principal plus interest, from simple interest on a principal of $6,700.00 at a rate of 4.2% per year for 15 years is $10,921.00.
Calculation:
First, converting R percent to r a decimal
r = R/100 = 6.9%/100 = 0.069 per year.
Solving our equation:
A = 6000(1 + (0.069 × 15)) = 12210
A = $12,210.00
The total amount accrued, principal plus interest, from simple interest on a principal of $6,000.00 at a rate of 6.9% per year for 15 years is $12,210.00.
