Question 1 • (Kapuschinsky)WCA 3424 Consumer Applications 1st nine weeks 26-27
Use the simple interest formula I = Prt, where P = $1,677, r = 0.0861, and t = 6 years. The interest is $1,677 × 0.0861 × 6 = $866.3382, which rounds to $866.34. Therefore, the correct choice is $866.34.
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