for the following problem, calculate the interest ( round your responses to the nearest cent if necessary)
principal annual interest rate time interest
$13,200 6% 19 months
Thank you for the opportunity to help you with your question!
Answer:A = $ 14,451.36Equation:
A = P(1 + rt)
First, converting R percent to r a decimalr = R/100 = 6%/100 = 0.06 per year,putting time into years for simplicity,19 months ÷ 12 months/year = 1.58 years,then, solving our equationA = 13200(1 + (0.06 × 1.58)) = 14451.36 A = $ 14,451.36The total amount accrued, principal plus interest,from simple interest on a principal of $ 13,200.00at a rate of 6% per yearfor 1.58 years (19 months) is $ 14,451.36.
Content will be erased after question is completed.
Enter the email address associated with your account, and we will email you a link to reset your password.
Forgot your password?