March 1st, 2015 to September 1st, 2017 = 3 months = 2.5 years
Answer: $2,919.38
(I = A - P = $219.38)
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 3.25%/100 = 0.0325 per year.
Solving our equation:
A = 2700(1 + (0.0325 × 2.5)) = 2919.375
A = $2,919.38
The total amount accrued, principal plus interest, from simple interest on a principal of $2,700.00 at a rate of 3.25% per year for 2.5 years is $2,919.38.
