Question

In the formula I=P.rt, what does r stand for?

a. Rate: the percent that interest is paid annually as a decimal
b. Ratio: the size of the interest interval compared to time
Return: how much money you end up earning
d. Reserves: how much money you have in the investment
C.
Ro
Please select the best answer from the choices provided
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Answer 1

a. Rate: the percent that interest is paid annually as a decimal. explanation:In the given formula of simple interest I = P.r.t

P is the principal or initial amount.

r is the rate of interest paid annually as a decimal.

t is the time period in years.

The simple interest formula permits us to calculate I, which is the interest charged or earned on a loan.