Question 910590: 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 = 3/100, and T = 2 years
You will earn $__ in interest.
Sorry I forgot to add a slash bc it is three and one hundreths!
Answer by stanbon(75887)   (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 = 3/100, and T = 2 years
You will earn $__ in interest.
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Interest == 2000*0.03*2 = 2000*0.06 = $120.00
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Cheers,
Stan H.
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