Find Simple Interest for the following scenario:

$53,500 at 13.3% for 6 months (6 months = 0.5 years).

Question

Mathematics

Jamarcus Boone

30 March, 21:01

Find Simple Interest for the following scenario:

$53,500 at 13.3% for 6 months (6 months = 0.5 years).

+4

Answers (1)

Know the Answer?

Kendall Mcneil · Answer 1

Simple interest = $ 355,775

Explanation:

We have been given the following datas.

Principle amount = $53,500 Rate = 13.3% Time = 6 months

We have to find the simplest ratio of the given scenario.

Formula of Simple Interest = (P * R * T) / 100

Simple Interest = (P * R * T) / 100

Simple interest = $53,500 * 13.3 * ½

Simple Interest = $ 355775

Therefore, the required simple interest is $355775.

Find Simple Interest for the following scenario:$53,500 at 13.3% for 6 months (6 months = 0.5 years).

Find Simple Interest for the following scenario:

$53,500 at 13.3% for 6 months (6 months = 0.5 years).