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5 November, 05:33

P=$375, r=7.75%, t=30 days (simple interest)

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  1. 5 November, 05:40
    0
    I = $ 1,937.50

    Step-by-step explanation:I = $ 1,937.50

    Equation:

    I = Prt

    Calculation:

    First, converting R percent to r a decimal

    r = R/100 = 3.875%/100 = 0.03875 per year,

    then, solving our equation

    I = 10000 * 0.03875 * 5 = 1937.5

    I = $ 1,937.50

    The simple interest accumulated

    on a principal of $ 10,000.00

    at a rate of 3.875% per year

    for 5 years is $ 1,937.50.
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