Answer:
$17.55
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3%/100 = 0.03 per year,
then, solving our equation
I = 390 × 0.03 × 1.5 = 17.55
I = $ 17.55
The simple interest accumulated
on a principal of $ 390.00
at a rate of 3% per year
for 1.5 years is $ 17.55.
