Question

Find the interest earned if you place $76.43 into an account that pays 21.5% simple interest, and leave it in for 3 years.

Answer 1

A = $125.73

I = A - P = $49.30

hey!

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 21.5%/100 = 0.215 per year.

Solving our equation:

A = 76.43(1 + (0.215 × 3)) = 125.72735

A = $125.73

The total amount accrued, principal plus interest, from simple interest on a principal of $76.43 at a rate of 21.5% per year for 3 years is $125.73.

------------------------

hope i helped in some way! keep pushing you got this