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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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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.

User Gilles Louppe
by
7.8k points

1 Answer

4 votes
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
User James Forbes
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8.2k points
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