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16-10-2018
Mathematics

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find the simple interest earned to the nearest cent for each principal, interest rate, and time 1500, 4.25%, 4 years

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jdoe0001 jdoe0001

16-10-2018

[tex]\bf ~~~~~~ \textit{Simple Interest Earned}\\\\I = Prt\qquad\begin{cases}I=\textit{interest earned}\\P=\textit{original amount deposited}\dotfill & \$1500\\r=rate\to 4.25\%\to \frac{4.25}{100}\dotfill &0.0425\\t=years\dotfill &4\end{cases}\\\\\\I=(1500)(0.0425)(4)\implies I=255[/tex]

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