Answer:
16.35,100.00
Step-by-step explanation:
A = 35,100.00
I = A - P = 5,100.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8.5%/100 = 0.085 per year.
Solving our equation:
A = 30000(1 + (0.085 × 2)) = 35100
A = 35,100.00
The total amount accrued, principal plus interest, from simple interest on a principal of 30,000.00 at a rate of 8.5% per year for 2 years is 35,100.00.
