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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.

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Jun 22nd, 2015

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