How much money will he earn on February 20, 2025, using simple exact interest with an approximate time?*1 point$659.98$695.89$695.98$659.89

To determine how much money he will earn on February 20, 2025, using simple exact interest, we need to go through the following steps:

1. Break Down the Problem

• Identify the principal amount (P).
• Determine the interest rate (r).
• Calculate the time period (t) from the starting date to February 20, 2025.

2. Relevant Concepts

• The formula for simple interest is given by: $I = P \cdot r \cdot t$ where:
  • $I$ is the interest earned,
  • $P$ is the principal amount,
  • $r$ is the annual interest rate (as a decimal),
  • $t$ is the time in years.

3. Analysis and Detail

• Since the principal amount, interest rate, and exact starting date weren't provided in your question, let's assume typical values often used in examples. If you have specific values, please provide them.

  For instance, let's assume:

  • Principal (P) = $600
  • Interest Rate (r) = 5% = 0.05
  • Time (t): If we assume the starting date is February 20, 2020, then the time from 2020 to 2025 is 5 years.

Using those values: $I = 600 \cdot 0.05 \cdot 5$ $I = 600 \cdot 0.25 = 150$

4. Verify and Summarize

Now, we add the interest earned to the principal to find the total amount at the end of the period: $\text{Total Amount (A)} = P + I = 600 + 150 = 750$

Final Answer

Based on assumed values, the total amount he will earn on February 20, 2025, would be $750.00.

However, please provide the principal and interest rate values to get an exact figure for your scenario. Based on the given options, you may want to check for an exact match closer to the calculated value.