Question

Write an equation to find the amount of interest $450,000 earns in 1 year at a simple interest rate of 3.5%.

Answer 1

equation: (450000)(.035)(1)

amount of interest: 15750

Explanation:

Answer 2

The required equation for the amount of Simple Internet =
`(450,000 * 1 * 3.5)/(100)`

Explanation:

Here , Principal amount = $450,000

Time = 1 year

Rate of Interest = 3.5%

Now,SIMPLE INTEREST =
`(P * R * T)/(100)`

So, here SI =
`(450,000 * 1 * 3.5)/(100)`

Hence, the required equation for the amount of Simple Internet =
`(450,000 * 1 * 3.5)/(100)`