Answer:
85 in intreset and 935 totoal
Step-by-step explanation:
Answer:
A = $935.00
I = A - P = $85.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year.
Solving our equation:
A = 850(1 + (0.05 × 2)) = 935
A = $935.00
The total amount accrued, principal plus interest, from simple interest on a principal of $850.00 at a rate of 5% per year for 2 years is $935.00.
