Question

Use the formula for simple interest, I = Prt, to find the indicated quantity.

I=$36; r = 8%; t= 3 months; P=?

Answer 1

Explanation:

We are trying to solve for P

if I = Prt

P = I/rt

P = 36/ 0.08 ( we take 8 percent as a out of 100 8/100) * 0.25 (3 months is a 1/4 of a year)

P = 1800

Answer 2

Explanation: