Question

Explanation and answer please :)

Answer 1

Step-by-step explanation:

You use the I = PRN formula

P = 11 500

R = 7.25% but you have to 7.25 divide by 100 so it becomes a decimal so it should be 0.0725

N = 2 years and 6 months. This can be 2.5 years because half of 12 is 6

the solution is 11 500 × 0.0725 × 2.5 = 2084.38