Answer : The correct option is, (d) $3166
Step-by-step explanation :
Given:
Principle = $2136
Rate = 5.36 %
Time = 9 years
First we have to determine the simple interest.
Formula used :
[tex]S.I=\frac{PRT}{100}[/tex]
where,
P = principle
R = interest rate
T = time
S.I = simple interest
Now put all the given values in the above formula, we get:
[tex]S.I=\frac{(\$2136)\times (5.36)\times (9)}{100}[/tex]
[tex]S.I=\$ 1030.4[/tex]
Now we have to calculate the total amount nicole have after nine years.
Amount = Principle + Simple interest
Amount = $2136 + $1030.4
Amount = $3166.4
Amount ≈ $3166
Thus, the total amount nicole have after nine years is, $3166
