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Algebra 2
Found in: Page 9
Algebra 2

Algebra 2

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=prt, 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=4years

Simple interest is I=$432

See the step by step solution

Step by Step Solution

Step 1 - Meaning of given formula I=prt

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


Step 3 - Simplify 1800×6%×4

Substitute 6100 for 6%


Thus, simple interest is I=$432

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