Answer:
$ 1,732.04
Step-by-step explanation:
A = $1,732.04
I = A - P = $725.04
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year.
Solving our equation:
A = 1007(1 + (0.08 × 9)) = 1732.04
A = $1,732.04
The total amount accrued, principal plus interest, from simple interest on a principal of $1,007.00 at a rate of 8% per year for 9 years is $1,732.04.
