kayandkalie kayandkalie

18-01-2019
Mathematics

contestada

what is the simple interest if the principal is $12,000 in the interest rate is 4.25% and the time is 5 years?

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sqdancefan sqdancefan

18-01-2019

Answer:

$2,550

Step-by-step explanation:

The applicable formula for simple interest is ...

I = Prt

Filling in the given values and doing the arithmetic, we find the interest to be ...

I = $12,000×0.0425×5 = $2,550

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