Answer :
I=PRT
P=principal=present amount
R=rate
t=time in years
12months per year
64/12=5 and 1/3 year
I=27500 times 0.0325 times 5.333333333
I=5236
interest=$5236
P=principal=present amount
R=rate
t=time in years
12months per year
64/12=5 and 1/3 year
I=27500 times 0.0325 times 5.333333333
I=5236
interest=$5236