Question

What is the simple interest that is missing from the table? Use the formula . I ? p $375 r 2.2% t 3 years $25.00 $24.75 $2,475.75 $2,500.00

Answer 1

B. 24.75

It is b or 25.75 on E D G E

Answer 2

The simple interest is $ 24.75.

Explanation:

Since, the simple interest is,

`I=(P* r* t)/(100)`

Where, P is the principal amount,

r is the rate per period

And, t is the number of periods,

Here, P = $ 375, r = 2.2% and t = 3 years,

Thus, the simple interest is,

`I=(375* 2.2* 3)/(100)`

`=(2475)/(100)`

`=\$24.75`