question 9(multiple choice worth 5 points) (slope - intercept form mc) a nurse invests $13,540 at a simple…

question 9(multiple choice worth 5 points) (slope - intercept form mc) a nurse invests $13,540 at a simple annual interest rate of 2.4%. how much interest is earned on the investment after 12 years? $3,899.52 $9,640.48 $17,439.52 $23,180.48

question 9(multiple choice worth 5 points) (slope - intercept form mc) a nurse invests $13,540 at a simple annual interest rate of 2.4%. how much interest is earned on the investment after 12 years? $3,899.52 $9,640.48 $17,439.52 $23,180.48

Answer

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $I$ is the interest, $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the interest rate to decimal

The annual interest rate $r = 2.4%=0.024$. The principal amount $P=$13540$ and the time $t = 12$ years.

Step3: Substitute values into the formula

$I=Prt=13540\times0.024\times12$. First, $13540\times0.024 = 324.96$. Then, $324.96\times12=3899.52$.

Answer:

A. $3,899.52$