Question

How much simple interest is earned on $4,558.35 at an interest rate of 3.2% in 9 years?

Answer 1

1,312.80 would be your answer. The formula used to solve this would be I=PRT where p represents your starting amount deposited and r is your rate of interest and t is your time in years

Answer 2

=$ 1,312.80

Explanation:

Simple interest is given by the formula PRT/100

Where P is the principal amount, R is the interest rate and T is the interest period in years.

= ($ 4,558.35 × 3.2 ×9)/100

=$ 1,312.80