arackygadjigo arackygadjigo

17-02-2021
Mathematics

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Find the simple interest for $3200 invested at 7% for 2 years.

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smartone58416 smartone58416

18-02-2021

Answer:

$448

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 7%/100 = 0.07 per year,

then, solving our equation

I = 3200 × 0.07 × 2 = 448

I = $ 448.00

USE THE EQUATION Interest= Principal x rate x time

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