Answer: The interest is: $528.00
Step-by-step explanation:
Formula ⇒ I = PRT
⇒ P is the principal amount, $2200.00.
⇒ R is the interest rate, 12% per year, or in decimal form, 12/100=0.12.
⇒ T is the time involved, 2....year(s) time periods.
⇒So, t is 2 year time periods.
⇒ Finally, To find the simple interest, you just multiply 2200 × 0.12 × 2 to get that:
The interest is: $528.00
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