Question

$400 at 6.3% for 4 years. Find the simple interest

Answer 1

Answer:

the amount of interest is $100.80

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6.3%/100 = 0.063 per year,

then, solving our equation

I = 400 × 0.063 × 4 = 100.8

I = $ 100.80

The simple interest accumulated

on a principal of $ 400.00

at a rate of 6.3% per year

for 4 years is $ 100.80.

BRAINLIEST PLEASE!