QUESTION 5
Find the simple interest. Round your answer to the nearest cent.
Principal $= $ 59, 400$
Interest Rate $= 7 %$
Time in years $= 6$
$$ 1414.29$
$$ 2494.80$
$$ 24, 948.00$
$$ 69, 300.00$

Answer

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Answer

Step 3: Calculate: $I = 24948$

Steps

Step 1 ：Step 1: Use Formula for Simple Interest: $I = P * r * t$

Step 2 ：Step 2: Substitute Values: $I = 59400 * 0.07 * 6$

Step 3 ：Step 3: Calculate: $I = 24948$