Answer:
C.I = $251.2
Step-by-step explanation:
P = Principal amount = 1600
r = rate of annual interest = 6%
n = period / no. of years = 2.5 years
C.I = (P* (1+r^n))-P
C.I = (1600*(1+0.06)^2.5))-1600
C.I = (1600*(1.06^2.5))-1600
C.I = (1600*1.157)-1600
C.I = 1851.2-1600
C.I = 251.2
