Question

Simple Interest Formula: I = PxRxT-Solve for Principal (P) if I=$525;

R=20%; and T=180 days (180/360). *
$525
$52.50
$5250
O $18,900
の

Answer 1

$52.50

Step-by-step explanation:

The formula for simple interest is

I= p x r x t, where

I = interest,

p= principal ; $525

r = interest rate ; 20% or 0.2

t =time in years: 180 days, in years = 180/360 = 0.5 years

I = $525 x 0.2 x 0.5

I =$105 x 0.5

i =$ 52.5

Interest = $52.50