Question

.- Calcule el interés producido por un capital de 4 500 dólares al 5% de interés simple anual en 8 meses.

Answer 1

Answer: $150

Step-by-step explanation:

Hi, the question says:

Calculate the simple interest produced by $4500 at 5% simple annual interest in 8 months.

To answer this question we have to apply the simple interest formula:  

I = p x r x t  

Where:  

I = interest  

P = Principal Amount  

r = Interest Rate (decimal form)  

t = years  

Since 1 year = 12 months;  

For 8 months:

8/12 = 2/3 years  

Replacing with the values given  

I = 4500 x (5/100) x 2/3

I = $150

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