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

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Question 993439: Find the interest that a $510 deposit will earn 3 months at 4.25% simple interest
Answer by farohw(175) About Me  (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