Question

.- Calcule el interés producido por un capital de 4 500 dólares al 5% de interés simple anual en 8 meses.

Answer 1

Answer: $150

Explanation:

Hi, the question says:

Calculate the simple interest produced by $4500 at 5% simple annual interest in 8 months.

To answer this question we have to apply the simple interest formula:

I = p x r x t

Where:

I = interest

P = Principal Amount

r = Interest Rate (decimal form)

t = years

Since 1 year = 12 months;

For 8 months:

8/12 = 2/3 years

Replacing with the values given

I = 4500 x (5/100) x 2/3

I = $150

Feel free to ask for more if needed or if you did not understand something.