Question

p = $300
r = 7%
t = 2

What is i?

Answer 1

is there an equation somewhere?

Answer 2

no thats it

Answer 3

$4.20
$42.00
$420.00
these are the awnsers

Answer 4

i didnt understand it either

Answer 5

There is a formula.
PRT = I
P = Principal
R = Interest Rate
T = Time (Number of periods)

Answer 6

So plug that in the equation. What would the answer be?

Answer 7

nice @GoldPhenoix

Answer 8

I honestly have no clue

Answer 9

So according to what you have:
p = $300
r = 7%
t = 2
Correct?

Answer 10

yea

Answer 11

So we have the formula:
PRT = I

Just plug it in.
Do you know how?

Answer 12

No this was the first time ive ever done this

Answer 13

*is

Answer 14

So what's P?

Answer 15

$300

Answer 16

Great.
So if you plug that in, then our equation looks like:
(300)RT
What's R and T?

Answer 17

7 2

Answer 18

7% you mean.
7 and 7% is a big difference.
So plug that in as well.
(300)(7%)(2)
Now how would we solve that?

Answer 19

multiply?

Answer 20

Good job. So what does 300 * 2 give us?

Answer 21

600

Answer 22

Good. Now what does 600 * 7% give us?
If you don't know how to do that, then what is 7% in decimal form?

Answer 23

0.07

Answer 24

no

Answer 25

0.7

Answer 26

Good. So what does 600 * .07 give you?

Answer 27

Nope. .07. ;)
.7 is equal to 70%.
Keep that in mind. :)

Answer 28

ok

Answer 29

42

Answer 30

Good. So the answer is $42.
I hope this help! :)

Answer 31

Ya thank you so much on helping me understand it!