Answer:
$ 92.05
Step-by-step explanation:
Equation:
I = Prt (intrest=principal•rate•time)
First, converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year,
putting time into years for simplicity,
160 days ÷ 365 days/year = 0.438356 years,
then, solving our equation
I = 6000 × 0.035 × 0.438356 = 92.05476
I = $ 92.05
The simple interest accumulated
on a principal of $ 6,000.00
at a rate of 3.5% per year
for 0.438356 years (160 days) is $ 92.05
