Answer:
Simple interest = $ 355,775
Explanation :
We have been given the following datas.
- Principle amount = $53,500
- Rate =13.3%
- Time = 6 months
We have to find the simplest ratio of the given scenario.
- Formula of Simple Interest = (P× R × T)/100
Simple Interest = (P× R × T)/100
Simple interest = $53,500 × 13.3 ×½
Simple Interest = $ 355775
Therefore, the required simple interest is $355775.
