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The formula for simple interest is l = prt where l is the amount of interest, p is the principal, r is the interest rate, and t is the time in years. If Lucy saves $300 at a 5% …

The formula for simple interest is l = prt where l is the amount of interest, p is the principal, r is the interest rate, and t is the time in years. If Lucy saves $300 at a 5% …
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The formula for simple interest is l = prt where l is the amount of interest, p is the principal, r is the interest rate, and t is the time in years. If Lucy saves $300 at a 5% interest rate, how much simple interest will she receive after 7 years?

User Ganpat
by
8.3k points

1 Answer

6 votes

l=prt

l=300x5x7

l=10500

User Donkey Trouble
by
7.6k points
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