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
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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
