Answer:
$75.65
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4.25%/100 = 0.0425 per year,
then, solving our equation
I = 890 × 0.0425 × 2 = 75.65
I = $ 75.65
The simple interest accumulated
on a principal of $ 890.00
at a rate of 4.25% per year
for 2 years is $ 75.65.
