Question

Find the simple interest on $1200 for 4 years at a rate of 3.12%.

Answer 1

Total: $
`$1349.76`

Simple Intrest: $
`149.76`

Explanation:

`SI=(P)(R)(T) \\P=1200\\R=0.0312\\T=4\\SI=(1200)(0.0312)(4)\\SI=(37.44)(4)\\SI=149.76\\149.76+1200=1349.76`

Answer 2

149.76

Explanation:

Simple interest ....no compounding

1200 * .0312 * 4 = $ 149.76