How to find the simple interest on 6840 for 1 and a half years at 1.25% per month

Question

Math 

Answer 1

I = p•R•t

Since the rate is 1.25% per month, change the time to months.   So, 1 1/2 years =18 months.  Change % to a decimal and substitute the values into the equation.  

 

I= 6840•0.0125•18

I =$1539