Question

How much interest is earned on 6000 at an interest rate of 4.25% in 4 1/2 years

Answer 1

`\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$6000\\ r=rate\to 4.25\%\to (4.25)/(100)\to &0.0425\\ t=years\to 4(1)/(2)\to &(9)/(2) \end{cases} \\\\\\ I=6000\cdot 0.0425\cdot (9)/(2)`