Question

If you invest in $1600 at 5.25% for 18 months, how much simple interest is earned

Answer 1

$126

Explanation:

P=$1600

R=5.25%

T=18/12=3/2

NOW

WE HAVE,

S.I=PTR/100

=(1600*3/2*5.25)/100

=25200/200

=$126

HENCE,$126 is earned.