SOLUTION: which formula represents the interest I earned after the first month of an account that compounds monthly? p= principal r= interest rate a. I = p*R b. p=I*r /12 c I = P*R /1

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Question 626534: which formula represents the interest I earned after the first month of an account that compounds monthly? p= principal r= interest rate
a. I = p*R
b. p=I*r /12
c I = P*R /12
d P=R*I /12
Answer by stanbon(57984) About Me  (Show Source):
You can put this solution on YOUR website!
which formula represents the interest I earned after the first month of an account that compounds monthly? p= principal r= interest rate
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Ans: I = P(R/12)
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Cheers,
Stan H.
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a. I = p*R
b. p=I*r /12
c I = P*R /12
d P=R*I /12