Question

Find the simple interest paid for 7 years on a $600 loan at 5% per year.

Answer 1

Its a simple formula! I = (PTR)/100
put all your numbers just like them and solve!

Answer 2

but i dont understand

Answer 3

You know your P: 600, T: 7, R: 5
then just multiply all three numbers and divide that answer by 100
600 x 7 x 5
divide the answer by 100 to get the final answer!