Question 625906
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