Question

Find the simple interest.
Principal
$160
Rate
5.5%
Time
4 years
The simple interest is
(Simplify your answer.)

Answer 1

Answer:

$35.20

Step-by-step explanation:

S.I. = (P×R×T)/100

=(160×5.5×4) /100

= (640×55) / 100×10

= (64×55) / 100

= 3520 / 100

= $ 35.20

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