Answer:
$22843.75
Step-by-step explanation:
I'm assuming that $18.275 is $18,275
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 18275 × 0.05 × 5 = 4568.75
I = $ 4,568.75
The simple interest accumulated
on a principal of $ 18,275.00
at a rate of 5% per year
for 5 years is $ 4,568.75.
