Problema Solution
Find the simple interest. The rate is an annual rate unless otherwise noted. Assume 365 days in a year and 30 days per month.
Principal = $1620
Rate = 17%
Time in months = 4
My answer = 1,101.60
Thanks.
Answer provided by our tutors
your answer is not correct.
you need to conver months in to years
so, just divide your answer by 12 and you will get correct answer.
which is 91.80