Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent if necessary.
-Anita Tooms bought a new computer system. To pay for the system, she borrowed $\$ 2550$ from the credit union at $11 \frac{2}{3} \%$ simple interest for 85 days. Find the interest owed. (Use a 365 day year.)
A) $\$ 297.50$
B) $\$ 65.32$
C) $\$ 69.28$
D) $\$ 74.38$

Question

Quizplus · Accepted Answer

The simple interest can be calculated using the formula $ I = P \times r \times t $, where $ P = 2550 $, $ r = \frac{11.67}{100} $, and $ t = \frac{85}{365} $. This gives $ I = 2550 \times 0.1167 \times \frac{85}{365} = 69.28 $.

Solve the Problem $2550\$ 2550$2550 From the Credit Union At 1123%11 \frac{2}{3} \%1132​%

Solve the Problem $\$ 2550$ From the Credit Union At $11 \frac{2}{3} \%$