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Gideon123 Gideon123
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4 years ago

Question 1.

The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent.

P = $200.00
r = 5%
t = 5 months

▸ $50.00

▸ $4.17

▸ $204.17

▸ $250.00

Question 2.

The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent.

P = $5700
r = 7.5%
t = 20 months

▸ $777.27

▸ $712.50

▸ $6412.50

▸ $8550.00
Textbook 
Thinking Mathematically

Thinking Mathematically


Edition: 6th
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tlastertlaster
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