Question

what is the simple interest of $1500.00 for 4 months at 63/4% annual interest?

Answer 1

what is 1500(.0675)(4/12) ?

Answer 2

2.25%

Answer 3

A quick question for Reiny, how did you calculate 63/4%, if you could explian in detial, I would highly appreciate it.
Thank you,
Fawad

Answer 4

I=P*R*T
=1500*(0.0675)*(4/12)
=$33.75