Question

calculate the simple interest and maturity value when principle amount is 400.00, interest rate is 4% for 14 months. round to nearest cents

Answer 1

the interest rate is per month or per year?

Answer 2

I = Prt
I = (400)(4/100)(14)
I = 224 per month

Answer 3

if the interest is per month. I already post the answer.
=)