your own question, for FREE!
The formula for the amount with simple interest is A = P(1 + rt). Find t if A = 168, P = 150, and r = 0.08.
Join the QuestionCove community and study together with friends!
t = (A/P - 1)/r
t = (168/150 - 1)/.08
@gageallen15 this formula is not simple interest!
I = p * r * t is the right one!
The other is Compound Interest:
A = P ( 1 + r /n ) ^(nt)
@gageallen15 where are you?
Can't find your answer?
Make a FREE account and ask your own questions, OR help others and earn volunteer hours!
Join our real-time social learning platform and learn together with your friends!