Question

Find the simple interest on 7600 from 16 May, 2013 to 9 October, 2015 at 10% per annum.

please solve the problem ffast
with Full procedure

Answer 1

Answer:

9,373.33.

Step-by-step explanation:

16 May 2013 to 9 Oct 2015 = 28 months = 2 years and 4 months = 2 years

First, converting R percent to r a decimal

r = R/100 = 10%/100 = 0.1 per year.

Putting time into years for simplicity,

28 months / 12 months/year = 2.333333 years.

Solving our equation:

A = 7600(1 + (0.1 × 2.333333)) = 9373.33308

A = $9,373.33

The total amount accrued, principal plus interest, from simple interest on a principal of $7,600.00 at a rate of 10% per year for 2.333333 years (28 months) is $9,373.33.

Answer 2

Answer:

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