Find the simple interest.
Principal: 2500
Rate: 10 1/2%
Time in Years: 3 1/2
Simple Interest = Principal x Rate x Time
Simple Interest = 2500 x 10.5% x 3.5
Simple Interest = 887.50
The robot tutor can't even do simple arithmetic
2500 * .105 * 3.5 = 918.75
To find the simple interest, you can use the formula:
Simple Interest = (Principal * Rate * Time) / 100
Given:
Principal = $2500
Rate = 10 1/2% = 10.5%
Time = 3 1/2 years
First, let's convert the rate from a mixed number to a decimal:
10 1/2% = 10.5 / 100 = 0.105
Then, let's convert the time from a mixed number to a decimal:
3 1/2 years = 3.5 years
Now, we can substitute the values into the simple interest formula:
Simple Interest = (2500 * 0.105 * 3.5) / 100
Calculating this expression:
Simple Interest = (2625 * 0.105) / 100
Simple Interest = 275.625 / 100
Simple Interest = $2.76 (rounded to the nearest cent)
Therefore, the simple interest on a principal of $2500 at a rate of 10 1/2% for 3 1/2 years is $2.76.
To find the simple interest, you can use the formula:
Simple Interest = (Principal * Rate * Time) / 100
Let's plug in the given values:
Principal = $2500
Rate = 10 1/2% = 10.5%
Time = 3 1/2 years = 3.5 years
First, convert the rate to decimal form: 10.5 / 100 = 0.105
Now, substitute the values into the formula:
Simple Interest = (2500 * 0.105 * 3.5) / 100
Calculating the multiplication: (2500 * 0.105 * 3.5) = 919.125
Dividing by 100: 919.125 / 100 = $9.19125
Therefore, the simple interest on a principal of $2500 at a rate of 10 1/2% for 3 1/2 years is $9.19125.