Prealgebra (7th Edition)

Published by Pearson
ISBN 10: 0321955048
ISBN 13: 978-0-32195-504-3

Chapter 7 - Section 7.6 - Percent and Problem Solving: Interest - Practice: 1

Answer

306.25 dollars

Work Step by Step

I=PRT Let P=875 dollars , R=7% ,T = 5years I=875 $\times$7% $\times$ 5 Write 7% as a decimal I = 875 $\times$0.07 $\times$ 5 Multiply I=306.25 The simple interest is 306.25 dollars.
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