The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year and round answers to the nearest cent.
P= $2000, r=4.0% t=18 months
How to do?

Question

The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year and round answers to the nearest cent.
P= $2000, r=4.0% t=18 months
How to do?

danjs · Answer

simple interest

danjs · Answer

i think it is principle x rate x time

danjs · Answer

time in years, so 18 months is t = 1.5 yr

anonymous · Answer

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