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

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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

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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

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