Determine how much simple interest you would earn on the following investment:
2 answers:
Answer:
How do you mean 6/2%? Clarify it for assistance
Answer:
Simple interest = $ 3,484.00
Step-by-step explanation:
I= P×R×T ÷ 100
The rate is 6 1/2 and I will use the decimal form 6.5,to change that to a whole number we simply move the decimal point one place behind.
Since we moved the decimal point in the numerator we need to do the same for the denominator.Therefore 100 becomes 1000.
<u>13400 × 65 × 4</u> = $ 3,484.00
1000
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