Answer
$470.94
Work Step by Step
We can calculate simple interest on a loan by using the formula $I=prt$ (where I is the interest, p is the principal, r is the rate of interest, and t is the amount of time - expressed in years).
$r=3\frac{3}{4}$%$=3.75\div100=.0375$
$t=\frac{11}{12}$, because 11 months equals $\frac{11}{12}$ years
$I=prt$
$I=13700\times.0375\times\frac{11}{12}=470.94$ dollars
