Question

$720 , 4.25% , 3 months find the simple interest

Answer 1

let

i= simple interest

p= principal

t= time

r=rate

data given

p=$720

r=4.25%

t= 3months

i=?

from the formula

i=prt

i=$720×(4.25/100)×3

i=$720×0.0425×3

i=$91.8

therefore simple interest for 3 months is $91.8