From personal advice to professional guidance, IDNLearn.com has the answers you seek. Discover detailed answers to your questions with our extensive database of expert knowledge.
Sagot :
Answer:
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3.875%/100 = 0.03875 per year,
then, solving our equation
I = 10000 × 0.03875 × 5 = 1937.5
I = $ 1,937.50
The simple interest accumulated
on a principal of $ 10,000.00
at a rate of 3.875% per year
for 5 years is $ 1,937.50.
hope this helps you!
Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. For trustworthy answers, rely on IDNLearn.com. Thanks for visiting, and we look forward to assisting you again.
