Question

Sydney Dukes-Miller deposited $2,430 at 6.75%. She made no other deposits or withdrawals. How much simple interest did she eam in 65 days? What is the amount in the account?​

Answer 1

Interest : $29.19645

Amount in account: $2,459.19545

Step-by-step explanation:

I= P x r x t

I = Interest

P = principle amount, $2,430

r = interest rates : 6.75% or 0.0675

t= time =65 days, one year has 365 day: 65 days = 65/365 =0.1780 year

Interest = $2,430 x 0.0675 x 0.1780

=$164.025 x 0.1780

=$29.19645

The amount of money will be

=$2,430 + $29.19545

=$2,459.19545