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FinnZ [79.3K]
3 years ago
14

Simple interest to find the ending balance $460 at 13% for 2 years

Mathematics
1 answer:
Komok [63]3 years ago
7 0

Answer:

$568.16

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 13%/100 = 0.13 per year,

then, solving our equation

I = 416 × 0.13 × 2 = 108.16

I = $ 108.16

The simple interest accumulated

on a principal of $ 416.00

at a rate of 13% per year

for 2 years is $ 108.16.

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