Question

Find the amount of simple interest earned after 4 years on $500 invested at a 3% annual interest rate. (P * r * t )

Answer 1

\[SI= P \times R \times T\]
just as you wrote in your question....

Answer 2

SI=Simple Interest
P=Principal
R=Rate
T=Time

Answer 3

P = $500 r = 4% =.04 t = 3 yrs

I = PRT

I =($500)(.04)(3)
I =$60

Answer 4

So P= 3% x R= $500 x T= 4 years ?

Answer 5

look at nathan917's working and you would understand it better.....