SOLUTION: THE SIMPLE I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN YEARS, IS GIVEN BY I = PRT SIMPLE INTEREST ON A PRICIPAL OF $6000 AT 3% FOR 2 YEARS
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Question 77414: THE SIMPLE I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN YEARS, IS GIVEN BY I = PRT SIMPLE INTEREST ON A PRICIPAL OF $6000 AT 3% FOR 2 YEARS
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
THE SIMPLE I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN YEARS, IS GIVEN BY I = PRT SIMPLE INTEREST ON A PRICIPAL OF $6000 AT 3% FOR 2 YEARS
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I=6000*0.03*2=$360
Cheers,
Stan H.
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