Answer:
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Step-by-step explanation:
P is the principal amount, $400.00.
r is the interest rate, 7.5% per year, or in decimal form, 7.5/100=0.075.
t is the time involved, 6 month period(s) time periods.
To find the simple interest, we multiply 400 × 0.075 × 3 to get that:
The interest is: $90.00
