need help with word problems

Mathematics
Tutor: None Selected Time limit: 1 Day

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 

Jun 22nd, 2015

Thank you for the opportunity to help you with your question!

Answer:

A = $ 14,451.36

Equation:

A = P(1 + rt)


Calculation:

First, converting R percent to r a decimal
r = 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 equation

A = 13200(1 + (0.06 × 1.58)) = 14451.36 
A = $ 14,451.36

The total amount accrued, principal plus interest,
from simple interest on a principal of $ 13,200.00
at a rate of 6% per year
for 1.58 years (19 months) is $ 14,451.36.


Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 22nd, 2015

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