Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. p = $390, r=6.25%, t = 2.75 years
HERE
The simple interest is $0
(Round to the nearest cent as needed.)

9514 1404 393

  $67.03

Step-by-step explanation:

The interest formula is ...

  I = Prt

Using the given values, we have ...

  I = $390·0.0625·2.75 = $67.03125 ≈ $67.03

The simple interest is $67.03.

Additional comment

Here, the time period is given in years. The number of days per year is only relevant if the time period is given as a number of days or other sub-unit of a year.

1. 34

2. 268

3. x=14.4

step-by-step explanation:

a line is an defined derm because it

a)contains an infinite number of points b) can be used to create other geometric shapes c)describes something that does not have width or depth d) is a term that does not have a formal definition. a line is an undefined term because it: contains an infinite number of points.