keke6376 keke6376
  • 20-11-2019
  • Mathematics
contestada

How do I solve this problem and what is the answer?

How do I solve this problem and what is the answer class=

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jdoe0001 jdoe0001
  • 21-11-2019

well, 21 months is really more than 1 year, since there are 12 months in a year, 21 months is actually 21/12 years.

[tex]\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1620\\ r=rate\to 5.3\%\to \frac{5.3}{100}\dotfill &0.053\\ t=years\to \frac{21}{12}\dotfill &\frac{7}{4} \end{cases} \\\\\\ I=(1620)(0.053)\left( \frac{7}{4} \right)\implies I=150.255[/tex]

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