Answer:
$153.00
Step-by-step explanation:
A = $1,353.00
(I = A - P = $153.00)
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4.25%/100 = 0.0425 per year.
Solving our equation:
A = 1200(1 + (0.0425 × 3)) = 1353
A = $1,353.00
The total amount accrued, principal plus interest, from simple interest on a principal of $1,200.00 at a rate of 4.25% per year for 3 years is $1,353.00.
Answer:
$153
Step-by-step explanation:
Simple Intrest = P ( money invested ) * R ( percentage ) * T ( year )
I = P * R * T / 100
I = 1200 * 4.25 * 3 = 15300 / 100 = $153
This is the easiest method for me and I hope it helps :)
