Find the simple interest. Round your answer to the nearest cent.
-Principal $=\$ 900$
Interest Rate $=11.8 \%$
Time in years $=\frac{3}{4}$
A) $\$ 106.20$
B) $\$ 7.97$
C) $\$ 79.65$
D) $\$ 796.50$

Question

Quizplus · Accepted Answer

The simple interest can be calculated using the formula $I = PRT$, where $I$ is the interest, $P$ is the principal, $R$ is the annual interest rate (in decimal form), and $T$ is the time in years. Substituting the given values, $I = 900 \times 0.118 \times \frac{3}{4} = 79.65$.

Find the Simple Interest =$900=\$ 900=$900 Interest Rate =11.8%=11.8 \%=11.8% Time in Years

Find the Simple Interest $=\$ 900$ Interest Rate $=11.8 \%$ Time in Years