Answered

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What is the interest earned given the following:$10,200 at 8.5% for 10 months

Sagot :

Hello!

To calculate Simple Interest, we have to use the formula below:

[tex]S.I.=P\times R\times T[/tex]

• P, = principal (10,200)

,

• R, = rate (8.5% = 0.085)

,

• T, = time (10)

Let's replace these values in the formula that I mentioned:

[tex]\begin{gathered} S\mathrm{}I\mathrm{}=P\times R\times T \\ SI=10,200\cdot0.085\cdot10 \\ S\mathrm{}I=8,670 \end{gathered}[/tex]

So, the interest earned is $8,670.

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