DayraI199194 DayraI199194
  • 25-10-2022
  • Mathematics
contestada

Find the simple interest. Principal Time in Months Rate 1 $11.800 21% 4 The simple interest is $ (Round to the nearest cent.)

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YasaminZ761513 YasaminZ761513
  • 25-10-2022

we use the formula

Where Cn is the final amount= co the initial amount, n the number of months and i the rate dividing between 100

transform the mixed number

[tex]2\frac{1}{4}=2.25[/tex]

now, replace

[tex]\begin{gathered} Cn=11,800(1+(4)\times(\frac{2.25}{100})) \\ \\ Cn=11,800(1.09) \\ \\ Cn=12862 \end{gathered}[/tex]

the solution is 12,862

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