Answer:
Assuming that it is a 4%/year interest rate;
$2,915.00
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4%/100 = 0.04 per year.
Putting time into years for simplicity,
18 months / 12 months/year = 1.5 years.
Solving our equation:
A = 2750(1 + (0.04 × 1.5)) = 2915
A = $2,915.00
The total amount accrued, principal plus interest, from simple interest on a principal of $2,750.00 at a rate of 4% per year for 1.5 years (18 months) is $2,915.00