Question

Help me find the total amount. Can you please tell me how to do also :)

Principal Rate Time Total amount
$500 6% 2 Years X

Answer 1

Just multiply them all together: 500(.06)(2) = ?

Answer 2

I = PRT

Interest = Principal Rate Time

Answer 3

Okay, so if you multiply all of that out, you will get 60, which is only the Interest

Answer 4

To find the total amount you have to add the interest to the principal, which is 60 + 500 to get $560

Answer 5

I'm just trying to make sure that what I said makes sense. That's all.