Answer:
5,040.00
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Solving our equation:
A = 8000(1 + (0.07 × 9)) = 13040
A = $13,040.00
The total amount accrued, principal plus interest, from simple interest on a principal of $8,000.00 at a rate of 7% per year for 9 years is $13,040.00.
