Question

Find the simple interest. Round to the nearest cent if needed.

13. p= $43,200
r = 16.5%
t = 15 yr.

Answer 1

the simple interest formula is: A= P(1+rt)

A= 150,120

Explanation:

Plug each number in the formula

Do 16.5/100 which is 0.165

A= 43,200(1+(0.165)(15))

To make it easier Use PEMDAS or BODMAS

You want to start with the numbers that are inside the parenthesis Multiplication comes first before addition.

So 0.165 x 15 is 2.475

Add the 1:

1+2.475= 3.475

Finally,

43,200(3.475) or 43,200 x 3.475

43,200 x 3.475= 150,120