Answer:
$157.50
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year,
then, solving our equation
I = 750 × 0.07 × 3 = 157.5
I = $ 157.50
The simple interest accumulated
on a principal of $ 750.00
at a rate of 7% per year
for 3 years is $ 157.50.
