Question

find the simple interest earned to the nearest cent for each principal, interest rate, and time 1500, 4.25%, 4 years

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned}\\\\I = Prt\qquad\begin{cases}I=\textit{interest earned}\\P=\textit{original amount deposited}\dotfill & \$1500\\r=rate\to 4.25\%\to (4.25)/(100)\dotfill &0.0425\\t=years\dotfill &4\end{cases}\\\\\\I=(1500)(0.0425)(4)\implies I=255`