Determine the simple interest when: principal: $15,850 interest rate: 3.75%, time: 7 year

Mathematics

1 answer:

Likurg_2 [28]2 years ago

4 0

Step-by-step explanation:

<h3>principle (p) = $15,850</h3><h3>rate (r) = 3.75%</h3><h3>time (t) = 7 years</h3><h3>simple interest = (p × r × t) ÷ 100</h3><h3> = (15850 × 3.75 × 7) ÷ 100</h3><h3> = 416,062.5 ÷ 100</h3><h3> = 4,160.625</h3>

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