Question

Find the simple interest. Principal ​$200 rate 13​% time 33 months. The interest is ​$ nothing. ​(Round to the nearest​ cent.)

Answer 1

there are 12 months in a year, so in 33 months, there are 33/12 years then.


`\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$200\\ r=rate\to 13\%\to (13)/(100)\to &0.13\\ t=years\to &(33)/(12) \end{cases} \\\\\\ I=200\cdot 0.13\cdot \cfrac{33}{12}`