Answer:
592.82
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 7.9%/100 = 0.079 per year,
then, solving our equation
I = 1895 × 0.079 × 4 = 598.82
I = $ 598.82
The simple interest accumulated
on a principal of $ 1,895.00
at a rate of 7.9% per year
for 4 years is $ 598.82.
