Answer:
330.00
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 11%/100 = 0.11 per year,
then, solving our equation
I = 1500 × 0.11 × 2 = 330
I = $ 330.00
The simple interest accumulated
on a principal of $ 1,500.00
at a rate of 11% per year
for 2 years is $ 330.00.
