Question

Find the interest on a simple interest investment of $34,450 at 5.25% for 10 years.

Answer 1

$ 18086.25

Explanation:

I=?

p=$34,450

r=5.25*1/100=5.25/100

t=10yrs

I=P*R*T

=34,450*5.25/100*10

=$18086.25