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blondinia
1 day ago
7

$1,200, 3.9%, 8months

Mathematics
2 answers:
Leona [9.2K]1 day ago
8 0
1,200(1.039)^.66666
1200(<span>1.02583386437)
$1231.00

</span>
Leona [9.2K]1 day ago
5 0

Answer:

$1231

Step-by-step explanation:

Known:

Principal = $1200

Interest rate = 3.9%

Duration = 8 months = 8/12 = 0.666667 years

Using the simple interest formula:A=P(1+rt)

A=1200(1+\frac{3.9\times 0.666667}{100})

A = 1200(1+(0.039 × 0.666667))

A = 1200 (1+0.026)

A = 1200 (1.026)

A = $1231

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