Question

$250, 2.85, 3 years find the simple interest SHOW WORK 20 POINTS

Answer 1

Ok so what we need to find is 3 years of the simple interest so let’s get to it!

Ok so we found the principal price which is 250.00

And our rate is going to be 2.85%

A=P(1+rt)

Therefore the answer is going to be A=$271.38, therefore from the simple interest on a principal of $250.00 at a rate of 2.85% per year for 3 years is $271.38.