Question

Calculate the simple interest earned on an investment of $7250 at a semiannual rate of 2.1% for 6 years.

Write your answer to the nearest cent.

Answer 1

the simple interest=913.5

914 (Nearest cent)

Explanation:

`i = (prt)/(100) \\ i = (7250 * 2.1 * 6)/(100) \\ i = (91,350)/(100) \\ i = 913.5`

`I = 914 \\ to\: the\: nearest \:cent`