Question

NEED ANSWERS!!!

Find the amount of simple interest earned on a principal of $850.00 at an annual rate of 3.5% for 2.5 years​

Answer 1

Will earn $74.38 in interest or for the total $924.38 for the total amount accrued, principal plus interest

Explanation:

I = p x rt

I = 850 x 0.035 x 2.5 = 74.38 (interest)

P' = p + I = 850 + 74.38 = 924.38