Answer:
A = $13,564.80
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 2%/100 = 0.02 per year.
Solving our equation:
A = 12560(1 + (0.02 × 4)) = 13564.8
A = $13,564.80
The total amount accrued, principal plus interest, from simple interest on a principal of $12,560.00 at a rate of 2% per year for 4 years is $13,564.80.
