Question

Find the amount of simple interest. $72.80, 4 1/4%, 2 years

Answer 1

Explanation:

I = (P × R × T)/100

P = $72.80, R = 4 1/4 = 17/4, T = 2yrs

I = (72.8 × 17/4 × 2)/100

I = $6.19