Question

principal $\square$ interest rate 6.5% time 18 months simple interest $620.75$

Explanation:

Step1: Recall simple interest formula

$I = P \times r \times t$
Where $I$ = simple interest, $P$ = principal, $r$ = annual interest rate (decimal), $t$ = time in years.

Step2: Convert rate and time

Convert 6.5% to decimal: $r = \frac{6.5}{100} = 0.065$
Convert 18 months to years: $t = \frac{18}{12} = 1.5$

Step3: Rearrange formula for $P$

$P = \frac{I}{r \times t}$

Step4: Substitute values and calculate

$P = \frac{820.75}{0.065 \times 1.5} = \frac{820.75}{0.0975} = 8150$

Answer:

$\$8150$