Question

Alice earns simple interest on a principal of $1,400 at an annual interest rate of 6% for the period of 3 years. What equation shows the relationship between principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i)?

Answer 1

254

Explanation:

this is not right

Answer 2

The amount of interest is $252. The equations
`i=p* r* t` or
`i=1400* 0.06* 3` represent the relation relationship between p, (r), (t) and (i).

Step-by-step explanation:

The formula of simple interest is

`i=p* r* t`

Where, principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i).

The principal amount is $1,400, interest rate of 6% and the time period of 3 years.

The amount of interest is

`i=1400* 0.06* 3`

`i=252`

Therefore the amount of interest is $252.

The equations
`i=p* r* t` or
`i=1400* 0.06* 3` represent the relation relationship between p, (r), (t) and (i).