# SOLUTION: Can someone help me on this problem? The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I =Prt. I need to find the simple

Algebra ->  Algebra  -> Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Can someone help me on this problem? The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I =Prt. I need to find the simple       Log On

 Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

 Algebra: Percentage and Pie Charts Solvers Lessons Answers archive Quiz In Depth

 Question 47225: Can someone help me on this problem? The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I =Prt. I need to find the simple interest on a principal of \$6,000 at 3% for 2 years. (3% = 0.03) Thanks, Lyn Answer by Willie(1)   (Show Source): You can put this solution on YOUR website!Hello Lyn, --Given: I=?, P=\$6,000, r=0.03, t=2yrs --Now plug in your values into the given formula: I =Prt I=(6000)*(0.03)*(2) I=180*(2) I=360 The simple interest on a period of 2 years will be \$360.