Question

Trish takes a Frenchy want to $5500 at a simple interest rate of 6% per year. Which of the following is closest to the amount of interest she will or after 2.5 years?

F. $825.00
G. $8,043.75
H. $80.44
J. 643.50

Please help I can’t figure it out
ASAP

Answer 1

F

Explanation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year,

then, solving our equation

I = 5500 × 0.06 × 2.5 = 825

I = $ 825.00

The simple interest accumulated

on a principal of $ 5,500.00

at a rate of 6% per year

for 2.5 years is $ 825.00.