Answer:
$479.15
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 9.25%/100 = 0.0925 per year,
then, solving our equation
I = 1295 × 0.0925 × 4 = 479.15
I = $ 479.15
The simple interest accumulated
on a principal of $ 1,295.00
at a rate of 9.25% per year
for 4 years is $ 479.15.
