p = $14,300 r = 7 1/2% t = 4 What is i?
Answer:
The value of I is $4,290.
Step-by-step explanation:
We are given that,
P = $14,300
R = \(7\frac{1}{2}=\frac{15}{2}\) = 7.5% = 0.075
T = 4
It is required to find the value of 'I'.
Since, we know that, \(I=PRT\)
Substituting the values, we get,
\(I=14,300\times 0.075\times 4\)
i.e. I = $4,290
Hence, the value of I is $4,290.