Answer:
the amount of interest is $100.80
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 6.3%/100 = 0.063 per year,
then, solving our equation
I = 400 × 0.063 × 4 = 100.8
I = $ 100.80
The simple interest accumulated
on a principal of $ 400.00
at a rate of 6.3% per year
for 4 years is $ 100.80.
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