QUESTION 1
Find the simple interest. Round your answer to the nearest cent.
Principal $= $ 12, 300$
Interest Rate $= 7 %$
Time in months $= 12$
$$ 10, 332.00$
$$ 86, 100.00$
$$ 861.00$
$$ 71.75$

Answer

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Answer

$I = \frac{86, 100}{100}$

Steps

Step 1 ： $I = \frac{P * R * T}{100}$

Step 2 ： $I = \frac{12, 300 * 7 * 12}{100 * 12}$

Step 3 ： $I = \frac{86, 100}{100}$