SOLUTION: If you invest P dollars (P is for principal) at simple interest rate R for T years, the amount of interest you will earn is given by the formula I=P⋅R⋅T. Find I if P

Algebra ->  Equations -> SOLUTION: If you invest P dollars (P is for principal) at simple interest rate R for T years, the amount of interest you will earn is given by the formula I=P⋅R⋅T. Find I if P      Log On


   

Question 910586: If you invest P dollars (P is for principal) at simple interest rate R for T years, the amount of interest you will earn is given by the formula I=P⋅R⋅T. Find I if
P = $2000, R = 3100, and T = 2 years
You will earn $__ in interest.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
If you invest P dollars (P is for principal) at simple interest rate R for T years, the amount of interest you will earn is given by the formula I=P⋅R⋅T. Find I if
P = $2000, R = 3100, and T = 2 years
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I = Prt
I = 200*3100*2
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Note:: No rate is ever 3100.
Cheers,
Stan H.
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