3 years ago

An account earns simple interest. $5200 at 7.36% for 54 months

1 answer:

6 0

A = P(1 +rt) where A is the total amount(principal and interest), r is the rate, and t is the time invested.

A = 5200[1 + .0736(4.5)]
A = 6922.24

note we had to change the rate to a decimal by dividing by 100
Also 54 months is equal to 4.5 years...you enter time in years.

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