What is the interest rate $2,200 at 7.5% for 3 1/4 years

Mathematics

1 answer:

Phoenix [80]2 years ago

5 0

Answer:

$536.25

Step-by-step explanation:

First, you need to find what 7.5% of $2,200 is,

(2200/100)7.5=165

then to find how much interest has accumulated over 3 1/4 year you need to multiply the one-year interest rate by the 3.25

(165)3.25=536.25

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