Choose the correct answer for the amount of interest earned in the following simple interest problem. A deposit of $4,000 at 9.5% for 270 days

asked Oct 8, 2018 54.2k views

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I=prt
I interest earned
P principle 4000
R interest rate 0.095
T time270/365
I=4,000×0.095×(270÷365)
I=281.10

James Daly answered Oct 15, 2018

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