Answer:
It should be $12168.75
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4.25%/100 = 0.0425 per year,
then, solving our equation
I = 11000 × 0.0425 × 2.5 = 1168.75
I = $ 1,168.75
The simple interest accumulated
on a principal of $ 11,000.00
at a rate of 4.25% per year
for 2.5 years is $ 1,168.75.
1,168.75 + 11000 = 12168.75
