SOLUTION: the simple interest earned when a principal p is invested at a rate r for a time t is calculated by multiplying the principal by the rate by the time write an expression for the in
Algebra.Com
Question 625906: the simple interest earned when a principal p is invested at a rate r for a time t is calculated by multiplying the principal by the rate by the time write an expression for the interest earned. how do you translate that?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
i = p*r*t
that's your equation.
i = interest
p = principal
r = interest rate
t = time
example:
p = 100 dollars
r = 5% per year
t = 2 years
i = 100*.05*2 = 10
note that 5% per year is equivalent to an interest rate of .05 per year.
the interest rate is the percent rate divided by 100
5% / 100 = .05
RELATED QUESTIONS
answer my algebra 1 questions 1. simple interest that you may earn on money in a savings... (answered by macston)
THE SIMPLE INTEREST. I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN... (answered by checkley71)
the future value of a simple interest investment is given by S = P(1+rt). What principal (answered by solver91311)
The future value of a simple interest investment is given by S=P(1+rt). What principal P... (answered by tommyt3rd)
THE SIMPLE I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN YEARS, IS... (answered by stanbon)
If money is invested for a short period of time, simple interest is paid using the... (answered by jim_thompson5910)
The simple interest (I) on a certain amount of money (p) that is invested at a specified... (answered by KMST)
The simple intrest I on a principal of P dollars at an intrest rate R for time T in ten... (answered by 303795)
sam wants to invest part of his $24000 lottery winnings in an international stock fund... (answered by addingup)