Question

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

Answer 1

`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)`