Answer:
$302.25
Step-by-step explanation:
First, change 7.75% into the decimal form. The work is shown below:
7.75% -> [tex]\frac{7.75}{100}[/tex] -> 0.0775
Using the equation [tex]I=Prt[/tex], lets plug in the values.:
[tex]I=1,300(0.0775)(3)[/tex]
[tex]I=302.25[/tex]
$302.25 worth of interest was earned after 3 years.
