Answer:
First, converting R percent to r a decimal
r = R/100 = 4%/100 = 0.04 per year.
Solving our equation:
A = 25800(1 + (0.04 × 10)) = 36120
A = $36,120.00
The total amount accrued, principal plus interest, from simple interest on a principal of $25,800.00 at a rate of 4% per year for 10 years is $36,120.00.
