Bettyboom1742 Bettyboom1742

12-10-2021
Mathematics

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How much simple interest does $4,678.00 earn in 529 days at a rate of 7.3%? Round to the nearest cent.

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Polyblock Polyblock

12-10-2021

Answer:

$5,172.93

Step-by-step explanation:

We're gonna use the simple interest formula: P = A(1 + r(t))

P = final amount

A = starting amount (4,678)

r = rate (0.073)

t = years (529/365)

P = 4,678(1 + 0.073(529/365))

P = 5,172.9324

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