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The principal P is borrowd at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year. P=$160, r=5%, t=2years
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The principal P is borrowd at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year. P=$160, r=5%, t=2years

User Tim Reynolds
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1 Answer

3 votes


i = prt

i = 160 * .05 * 2

i = 16
hope this helps
User Adrien BARRAL
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5.9k points
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