A = $4,312.00
I = A - P = $2,112.00
Hey!
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year.
Solving our equation:
A = 2200(1 + (0.08 × 12)) = 4312
A = $4,312.00
The total amount accrued, principal plus interest, from simple interest on a principal of $2,200.00 at a rate of 8% per year for 12 years is $4,312.00.
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Hope this helped in some way..have a great day!
