Answer:
$74.25
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 5.5%/100 = 0.055 per year,
then, solving our equation
I = 600 × 0.055 × 2.25 = 74.25
I = $ 74.25
The simple interest accumulated
on a principal of $ 600.00
at a rate of 5.5% per year
for 2.25 years is $ 74.25.
