SOLUTION: Find the interest that a $510 deposit will earn 3 months at 4.25% simple interest

SOLUTION: Find the interest that a $510 deposit will earn 3 months at 4.25% simple interest

Algebra.Com

Question 993439: Find the interest that a $510 deposit will earn 3 months at 4.25% simple interest
Answer by farohw(175) (Show Source): You can put this solution on YOUR website!

Formula: I = PRT

I = Interest

P = Principal ($510)

R = Simple interest rate (4.25% or 0.0425)

T = Term (3 months/12 months)

I = 510*0.0425*(3/12)

I = $5.42

RELATED QUESTIONS
Carol invested $250 at a simple interest rate of 4%. Find the interest she will earn in 1 (answered by amarjeeth123)

determine the annual simple interest rate you will earn if you pay $4,000 for a simple... (answered by rfer)

how much simple interest will rs1000 earn in 21 months at the annual rate of 8%? (answered by rfer)

Calculate the simple interest on $13500.00 for 25 months at 4%... (answered by rfer)

How much should you invest at 3.4% simple interest in order to earn $50 interest in 10... (answered by MathLover1)

How much do you invest at 4.6% simple interest in order to earn $90 interest in 3... (answered by josgarithmetic)

You deposit $2100 in a savings account paying 5.5% simple interest. How much interest... (answered by ewatrrr)

Today, you deposit $3,400 in a bank account that pays 5 percent simple interest. How... (answered by Boreal,Alan3354)

Find the principal that will earn 500 rupees in5 years at 6% simple... (answered by gksetu)