SOLUTION: Find the amount of simple interest on an investment of $3,100 for 2 and a half years at an annual rate of 4 3/4%. Round to the nearest cent

Algebra ->  Proportions -> SOLUTION: Find the amount of simple interest on an investment of $3,100 for 2 and a half years at an annual rate of 4 3/4%. Round to the nearest cent      Log On


   



Question 460294: Find the amount of simple interest on an investment of $3,100 for 2 and a half years at an annual rate of 4 3/4%. Round to the nearest cent
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I=3100*0.0475*2.5
I=$368.13