Respuesta :
ANSWER:
The interest earned on a principle of $671.37 at an interest rate of 4% for four years is $ 107.42.
SOLUTION:
Given, p = $671.37, R = 4%, t = 4.
We need to find the simple interest for the above given values of amount, rate and years.
We know that
[tex]Simple Interest $=\left(\frac{p \times r \times t}{100}\right)$[/tex]
where, p = principal amount ; r = rate of interest ; t = number of years
By substituting the values we get,
[tex]=\left(\frac{671.37 \times 4 \times 4}{100}\right) \\\\$=\left(\frac{2685.48 \times 4}{100}\right) \\\\$=\left(\frac{2685.48}{25}\right)$=107.4192$[/tex]
Simple interest is $ 107.42 approximately.
Hence, the interest earned on a principle of $671.37 at an interest rate of 4% for four years is $ 107.42.
