3 years ago

Determine the simple interest when: principal: $84,910 interest rate: 5.5%, time: 5 year

Mathematics

1 answer:

love history [14]3 years ago

4 0

Step-by-step explanation:

<h3>principle (p) = $84,910</h3><h3>rate (r) = 5.5%</h3><h3>time (t) = 5 years</h3><h3>simple interest = (p × r × t) ÷ 100</h3><h3> = (84910 × 5.5 × 5) ÷ 100</h3><h3> = 2,335,025 ÷ 100</h3><h3> = 23,350.25</h3>

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