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OpenStudy (anonymous):
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?
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OpenStudy (danjs):
simple interest
OpenStudy (danjs):
i think it is principle x rate x time
OpenStudy (danjs):
time in years, so 18 months is t = 1.5 yr
OpenStudy (anonymous):
?
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