Chapter 7 - Section 7.6 - Percent and Problem Solving: Interest - Exercise Set - Page 518: 8

77.50

I=PRT Let P=775dollars, R=15%, T = 8 months 8 months =$\frac{8}{12}$ year=$\frac{2}{3}$ I = 775 $\times$15% $\times$ $\frac{2}{3}$ Write 15% as a decimal I = 775$\times$0.15$\times$ $\frac{2}{3}$ Multiply I = 116.25$\times$$\frac{2}{3}$ = $\frac{232.5}{3}$ = 77.5 The simple interest is 77.5 dollars.