Question

How much simple interest is earned on $4,000 in 3 1/2 years at an interest rate of 5.2%?

Answer 1

Answer:

$728

Step-by-step explanation:

I = PRT

I = 4000 × 0.052 × 3.5

I = 728

Answer 2

Answer:

$728

Step-by-step explanation:

The formula for simple interest is I = PRT, where I = interest earned/paid, P = principal amount deposited or borrowed, R = rate of interest as a decimal, and T = time in years.

I = PRT

I = (4000)(0.052)(3.5)

I = 728