Find the simple interest. principal = $10,400; rate = 12.5%; time = 11 years

Question

Find the simple interest.   principal = $10,400; rate = 12.5%; time = 11 years

anonymous · Answer

I=PRT right that is the formula

anonymous · Answer

You want to calculate the interest on $10400 at 12.5% interest per year after 11 year(s).

Where:

    P is the principal amount, $10400.00.
    r is the interest rate, 12.5% per year, or in decimal form, 12.5/100=0.125.
    t is the time involved, 11....year(s) time periods.
    So, t is 11....year time periods.

To find the simple interest, we multiply 10400 × 0.125 × 11 to get that:

The interest is: $14300.00

Usually now, the interest is added onto the principal to figure some new amount after 11 year(s),
or 10400.00 + 14300.00 = 24700.00. For example:

    If you borrowed the $10400.00, you would now owe $24700.00

    If you loaned someone $10400.00, you would now be due $24700.00

    If owned something, like a $10400.00 bond, it would be worth $24700.00 now.

anonymous · Answer

do u get it?