Answer:
A = $446,068.00
Step-by-step explanation:
A = $446,068.00
I = A - P = $88,068.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8.2%/100 = 0.082 per year.
Solving our equation:
A = 358000(1 + (0.082 × 3)) = 446068
A = $446,068.00
The total amount accrued, principal plus interest, from simple interest on a principal of $358,000.00 at a rate of 8.2% per year for 3 years is $446,068.00.
