SOLUTION: Find the exact simple interest on 1,000.00 which was deposited on January 8, 1990 and to be withdrawn on October 8, 1992 if interest is 10%.

SOLUTION: Find the exact simple interest on 1,000.00 which was deposited on January 8, 1990 and to be withdrawn on October 8, 1992 if interest is 10%.

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Question 1184493: Find the exact simple interest on 1,000.00 which was deposited on January 8, 1990 and to be withdrawn on October 8, 1992 if interest is 10%.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
This is 2.75 years.
I=prt
=1000*0.10*2.75=$275
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