The simple interest formula I equals p times r times t gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Hector need to invest at a rate of 2% in order to earn $25 interest in 3 years?

about $417

about $42

about $25

about $1.50

Question

The simple interest formula I equals p times r times t gives the interest earned on an investment of p dollars at interest rate r for a time of t years. How much does Hector need to invest at a rate of 2% in order to earn $25 interest in 3 years?

 about $417

 about $42

 about $25

 about $1.50

thecatman · Answer

@amistre64

amistre64 · Answer

use the formula, luke .... use the formula~~

amistre64 · Answer

I = Prt, you are given, I, r, t .. solve for P