Determine the simple interest on an account paying $$ 6.5 \% $$ annually interest of an investment of $$ \$ 5,250 $$. $$ \begin{array}{ll} ext { a. } \$ 341.25 & ext { c. } \$ 345.02 \ ext { b. } \$ 343.08 & ext { d. } \$ 347.96\end{array} $$

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Determine the simple interest on an account paying $$ 6.5 \% $$ annually interest of an investment of $$ \$ 5,250 $$. $$ \begin{array}{ll}	ext { a. } \$ 341.25 & 	ext { c. } \$ 345.02 \ 	ext { b. } \$ 343.08 & 	ext { d. } \$ 347.96\end{array} $$

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The simple interest is $$ \$ 341.25 $$. To determine the simple interest on an account, you can use the formula: $$ \text{Simple Interest} = \text{Principal} \times \text{Rate} \times \text{Time} $$ In this case, the principal is $$ \$ 5,250 $$, the annual interest rate is $$ 6.5\% $$, and the time is 1 year since it's an annual interest rate. The rate needs to be converted to a decimal for the calculation, so $$ 6.5\% $$ becomes $$ 0.065 $$. Let's calculate the simple interest: $$ \text{Simple Interest} = \$ 5,250 \times 0.065 \times 1 $$ $$ \text{Simple Interest} = \$ 5,250 \times 0.065 $$ $$ \text{Simple Interest} = \$ 341.25 $$ So, the simple interest on the account is $$ \$ 341.25 $$, which corresponds to option (a).

Determine the simple interest on an account paying \( 6.5 \% \) annually interest of an investment of \( \$ 5,250 \). \( \begin{array}{ll}\text { a. } \$ 341.25 & \text { c. } \$ 345.02 \\ \text { b. } \$ 343.08 & \text { d. } \$ 347.96\end{array} \)

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Determine the simple interest on an account paying \( 6.5 \% \) annually interest of an investment of \( \$ 5,250 \). \( \begin{array}{ll}\text { a. } \$ 341.25 & \text { c. } \$ 345.02 \\ \text { b. } \$ 343.08 & \text { d. } \$ 347.96\end{array} \)

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