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OpenStudy (thecuteone25):
Please help I will MEDAL AND FAN
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OpenStudy (thecuteone25):
How much simple interest is earned on $6000 principal, with an annual interest rate of 3.7% over 5 years? simple interest: I = P • r • t A. $7195.24 B. $1195.24 C. $1110.00 D. $7110.00
OpenStudy (raffle_snaffle):
okay so where do you think we start?
OpenStudy (thecuteone25):
idk that's why I need help I do know the formula though
OpenStudy (raffle_snaffle):
do you have a textbook handy?
OpenStudy (raffle_snaffle):
F = p*i*n p = present value i = interest n = # of years
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OpenStudy (raffle_snaffle):
You have p, i, and n just plug and chug
OpenStudy (thecuteone25):
ok thank you
OpenStudy (raffle_snaffle):
yep =)
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