Answer:
$274.56
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3.2%/100 = 0.032 per year,
putting time into years for simplicity,
18 months ÷ 12 months/year = 1.5 years,
then, solving our equation
I = 5720 × 0.032 × 1.5 = 274.56
I = $ 274.56
The simple interest accumulated
on a principal of $ 5,720.00
at a rate of 3.2% per year
for 1.5 years (18 months) is $ 274.56.
