D Question 1 2 pts Find the simple interest on $1200 for 5 years at a rate of 3.91%. State your answer in terms of dollars rounded to the nearest cent (hundredth). Do not include a $ sign with your response.

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asked Sep 28, 2022 53.5k views

5 votes

D

Question 1
2 pts
Find the simple interest on $1200 for 5 years at a rate of 3.91%.
State your answer in terms of dollars rounded to the nearest cent (hundredth).
Do not include a $ sign with your response.

Mathematics
college

Gilles Louppe asked

by Gilles Louppe

7.7k points

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1 Answer

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the formula for simple interest is I = prt
plug in your values into the formula
I = 1200 x 0.0391 x 5
I = 234.6

James Forbes answered Oct 5, 2022

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