A = $2,861.60
I = A - P = $2,361.60
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 26.24%/100 = 0.2624 per year.
Solving our equation:
A = 500(1 + (0.2624 × 18)) = 2861.6
A = $2,861.60
The total amount accrued, principal plus interest, from simple interest on a principal of $500.00 at a rate of 26.24% per year for 18 years is $2,861.60.
Is there more to the problem?
You have $284 in your credit card balance. 186-174= 12. 99+35= 134 and then 12-134= -122. So 406-122= 284.
Answer: It is $42.4
Step-by-step explanation: Multiply (0.20)(53), you get 10.6, now that's the price that is discounted, so subtract that from the total, to get $42.4. If you want to check your answer, do 42.4/53 and you would get 0.80, or 80%. That is what you should get since you have a 20% discount from 100% of a product.