The values of a and b equals 10
Answer:
$1,823.2
Step-by-step explanation:
Simple interest is calculated using the formula
I = P X R X T
where I is the interest amount
P is the principal amount: 45,580.
R is the interest rate which is 4 %, or 0.04%
T is time, One year.
I = $45,580 x 0.04 x 1
I = $1,823.2 x 1
I = $1,823.2
