Final answer:
The simple interest on a principal of $1750 at an interest rate of 6 1/2% over 3 months is calculated using the formula I = PRT, resulting in $28.44.
Step-by-step explanation:
The student has asked for help in finding the simple interest on a principal of $1750 at an annual interest rate of 6 1/2% over a time period of 3 months.
To solve the mathematical problem completely, we use the simple interest formula I = PRT, where I represents the interest, P represents the principal amount, R represents the rate of interest per year, and T represents the time in years.
First, we convert the interest rate from a percentage to a decimal by dividing by 100. Since the rate is 6.5% (or 0.065 as a decimal), and the time needs to be converted to years, we divide 3 months by 12 to get 0.25 years. The calculation is as follows: $1750 × 0.065 × 0.25 which equals $28.44.
Therefore, the simple interest is $28.44.