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.

Shondeslitch asked Jun 15, 2023

532,243 views

17 votes

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.

Shondeslitch asked Jun 15, 2023

3.2k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

18 votes

Answer:

the simple interest=913.5

914 (Nearest cent)

Explanation:

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

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

Fai Ng answered Jun 19, 2023

3.1k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers