Answer:
$2,871.00
Step-by-step explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year.
Solving our equation:
A = 1595(1 + (0.08 × 10)) = 2871
A = $2,871.00
The total amount accrued, principal plus interest, from simple interest on a principal of $1,595.00 at a rate of 8% per year for 10 years is $2,871.00.
