chinnaa19 chinnaa19
  • 12-03-2015
  • Mathematics
Answered

Simple Interest
Principle=360, Rate=7%, Time=8 years. Calculate the Interest



Answer :

pinkster104
pinkster104 pinkster104
  • 12-03-2015
The formula for simple interest is Interest= Principle·Rate·Time When we plug it in it is Interest= 360·0.07·8 (7% becomes 0.07 when changed to decimal) Multiply and intrest equals $201.60. I hope that this helped you! :)
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Panoyin
Panoyin Panoyin
  • 12-03-2015
I = Prt
I = (360)(0.07)(8)
I = 201.60
$360 + $201.60
$561.60
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