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} $