Determine the simple interest when: principal: $205,435 interest rate: 2.8%, time: 15 year

Mathematics

1 answer:

Vesna [10]3 years ago

4 0

Step-by-step explanation:

<h3>principle (p) = $205,435</h3><h3>rate (r) = 2.8%</h3><h3>time (t) = 15 years</h3><h3>simple interest = (p × r × t) ÷ 100</h3><h3> = (205,435 × 2.8 × 15) ÷ 100</h3><h3> = 8,628,270 ÷ 100</h3><h3> = 86282.7</h3>

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