Answer:
$97.61
Step-by-step explanation:
Time = 7
Rate = 3.5
Principal Amount = 398.40
Using the Simple Interest formula:
SI = [tex]\frac{P*R*T}{100}[/tex] where
P -> Principal Amount,
R -> Rate, and
T -> Time
Substituting the given values into the formula:
SI =
[tex]\frac{398.4*3.5*7}{100}\\\\= \frac{9760.8}{100}\\\\= 97.608\\[/tex]
≈ $97.61
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