Answer:
The amount of money due to Beth-Ann at the end of this period is $27, 300.
Step-by-step explanation:
The amount at the end of a period, when simple interest is being charged is:
Amount (A) = Principal (P) + Interest (I)
Here interest is computed using the formula:
[tex]I=P\times R\times T[/tex]
It is provided that:
P = 24,000
R = 11%
T = 15 months = 1.25 years
Compute the Interest as follows:
[tex]I=P\times R\times T[/tex]
[tex]=24000\times 0.11\times 1.25\\=3300[/tex]
The interest earned is, I = $3,300.
Compute the amount of money due to Beth-Ann at the end of this period as follows:
[tex]A=P+I[/tex]
[tex]=24000+3300\\=27300[/tex]
Thus, the amount of money due to Beth-Ann at the end of this period is $27, 300.
