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Q13.

Expert-verified

Algebra 2

Found in: Page 9

Book edition Middle English Edition

Author(s) Carter

Pages 804 pages

ISBN 9780079039903

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Short Answer

Use the following information.
Simple interest is calculated using the formula $I = p r t$ , where $p$ represents the principal in dollars, $r$ represents the annual interest rate, and $t$ represents the time in years. Find the simple interest $I$ given each of the following values.
13. $p = $ 1800, r = 6 %, t = 4 y e a r s$

Simple interest is $I = $ 432$

See the step by step solution

Step by Step Solution

TABLE OF CONTENTS :

TABLE OF CONTENTS

Step 1 - Meaning of given formula I=prt

$p r t$ implies product of principle value, annual interest rate and time

So, interest rate can be evaluated by multiplying these three values

Step 2 - Substitute given values

Substitute $$ 1800$ for p, $6 %$ for r and 4 for t into given expression

$I = 1800 \times 6 % \times 4$

Step 3 - Simplify 1800×6%×4

Substitute $\frac{6}{100}$ for $6 %$

$\begin{matrix} I = 1800 \times \frac{6}{100} \times 4 \\ = \frac{43200}{100} \\ = 432 \end{matrix}$

Thus, simple interest is $I = $ 432$

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