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How much simple interest would x dollars earn in 13 months at a rate of r percent

1 Answer

3 votes

Answer:


I=(13xr)/(1,200)

Explanation:

we know that

The simple interest formula is equal to


I=P(rt)

where

I is the Simple interest Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal form

t is Number of Time Periods in years

in this problem we have


t=(13/12)\ years\\ P=\$x\\r=(r/100)

substitute in the formula above


I=x(r/100)(13/12)


I=(13xr)/(1,200)

User Rob Mayoff
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