- Interest: A sum fetched a total simple interest of $ 4016.25 at the rate of 9 %.p. a. in 5 years. What is the sum?

$8,925

Explanation:

Calculation of simple Interest is by the formula

I= P x r x t

Where I = Interest

p= principal

r= interest rate

t= time in years

In this case

I=$4016.25

p=???

r= 9% or 0.09

t=5 year

Therefore;

$4016.25= P x 0.09 x 5

$4016.25 = P0.45

P=$4016.25/0.45

P=$8,925

The principal is $8,925

the answer choices are:

provides online banking

provides automatic payment services

provides home loans by using saving accounts

accept tax return refunds

hopefully someone can answer the question now lol