SOLUTION: Find the simple interest on a $2,219 principal, deposited for six years at a rate of 5.11%.

Algebra ->  Finance -> SOLUTION: Find the simple interest on a $2,219 principal, deposited for six years at a rate of 5.11%.      Log On


   

Question 703432: Find the simple interest on a $2,219 principal, deposited for six years at a rate of 5.11%.
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
I = Prt

I = 2219*0.0511*6

I = 680.3454

I = 680.35

The simple interest is $680.35