(-11 x +3 ) -2 (-11/4 x -5/2) .
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Simple Interest is the quickest way to calculate interest. The simple interest on the principal amount of $4,500 for 1 year will be $585.
<h3>What is Simple Interest?</h3>Simple interest is a method to calculate interest it's the easiest way to calculate interest on a principal amount.
Given to us
Principal amount, P = $4,500
Rate Interest, r = 13%
Time period, T = 1
As we know the formula of simple interest simply substitute the values,
Hence, the simple interest on the principal amount of $4,500 for 1 year will be $585.
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