SOLUTION: The simple intrest I on a principal of P dollars at an intrest rate R for time T in ten years is given by I = PRT find the simple intrest on a principal of $6000 at 3% for 2 years

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Question 61599: The simple intrest I on a principal of P dollars at an intrest rate R for time T in ten years is given by I = PRT find the simple intrest on a principal of $6000 at 3% for 2 years.
Answer by 303795(562) About Me  (Show Source):
You can put this solution on YOUR website!
In this question all you need to do is substitute the values into the formula and use your calculator to find the answer.
P = $6000, R = 3% T = 2
I+=+PRT+
I+=+6000+%2A+%283%2F100%29+%2A+2
I+=+360+ dollars
(Note the interest rate of 3 % is actually 3/100 or 0.03)