SOLUTION: can you please help mee!!!!!! Using the formula I=PRT to find simple interest on an account, find the amount of interest earned in 3 years if you deposited $500 into a saving

Question 189907: can you please help mee!!!!!!

Using the formula I=PRT to find simple interest on an account, find the amount of interest earned in 3 years if you deposited $500 into a savings account earning 6% per year.
a. $9000
b. $90
c. $900
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!

I guess we're direct substituting the given to our formula for Simple Interest.

Given:
P= $500
R= 6%
T= 3years

Then,
I =PRT = $500 x 0.06 x 3yrs
I = $90 (b)

Thank you,
Jojo
RELATED QUESTIONS
I figured out the answer but I am clueless as to the equation. Can you please help????... (answered by stanbon)
Using the formula I=PRT to find simple interest on an account, find the ammount earned in (answered by stanbon)
Joy invests $5,000 into an account at a yearly interest rate of 0.3% simple interest for... (answered by josmiceli)
answer my algebra 1 questions 1. simple interest that you may earn on money in a savings... (answered by macston)
the formula for the simple interest earned on an investment is I=prt, where I is the... (answered by rfer)
Please help me I really do not understand this word problem and I would like to think you (answered by stanbon)
Can someone please help me with this. I am studing for an exam and I am sure there will... (answered by Theo)
using the formula for simple interest I=PRT determine the interest paid on a loan in the... (answered by jim_thompson5910)
Please help with the following. An amount of R1200 accumulates to R2600 after 3years... (answered by ikleyn)