A = $ 9,845.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8.25%/100 = 0.0825 per year,
then, solving our equation
A = 4400(1 + (0.0825 × 15)) = 9845
A = $ 9,845.00
The total amount accrued, principal plus interest,
from simple interest on a principal of $ 4,400.00
at a rate of 8.25% per year
for 15 years is $ 9,845.00.
