Answer:
$911.02
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 1.25%/100 = 0.0125 per year,
then, solving our equation
I = 845 × 0.0125 × 6.25 = 66.015625
I = $ 66.02
The simple interest accumulated
on a principal of $ 845.00
at a rate of 1.25% per year
for 6.25 years is $ 66.02.
