Question

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Answer 1

Investment problems usually involve simple annual, using the interest formula I = Prt, where I stands for the interest on the original investment, P stands for the amount of the original investment (called the "principal"), r is the interest rate (expressed in decimal form), and t is the time. For annual interest, the time t must be in years

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Answer 2

I = p* r * t

I = 5000 * .02 * 9/12

I = 5000 * .02 * 3/4 9/12 = 3/4 when simplified

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Answer 3

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