Answer:
A = $12,420.00
Explanation:
First, converting R percent to r a decimal
r = R/100 = 11%/100 = 0.11 per year.
Solving our equation:
A = 4500(1 + (0.11 × 16)) = 12420
A = $12,420.00
The total amount accrued, principal plus interest, from simple interest on a principal of $4,500.00 at a rate of 11% per year for 16 years is $12,420.00.
have a nice day! (^o^)
