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OpenStudy (x__hazel__x):
Jarod borrowed $500 from his parents. His parents are charging a simple interest rate of 3%. How much interest will Jarod pay if he pays his parents back in 3 years?
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OpenStudy (x__hazel__x):
@mathmale can you help? :3
OpenStudy (denonakavro):
The formula is easy you have to multiply PRT P is the principal amount R is the rate T is time
OpenStudy (denonakavro):
Do do 500x3x0.03 = 45 dollars interest To find the final money just add with principal amount 500+45=545 dollars
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