Question

To find simple​ interest, you multiply the principal​ (in dollars), the interest rate​ (as a​ decimal), and the time in years. The equation 24 = 400 0.015 4 shows how to find the simple interest for a certain account after 4 years. What is the interest rate​ (as a​ percent)? How much is the simple​ interest? What is the​ principal?

Answer 1

1.5%

$24

$400

Explanation:

the equation to find simple interest is

i = p×r×t

i stands for the interest

p stands for the principal

r stands for the rate of interest

t stands for the time in years

in this problem, the equation has already been replaced by numbers

so the i was replaced by the amount of simple interest (24) so thats the answer to the 2nd question

the r was replaced by the rate of interest as a decimal (0.015), and to change that decimal into a percent for the 1st question, just move the decimal point 2 spaces to the right, so in this case it would be 1.5%

and the p was replaced by the principal (400) so thats the answer to the 3rd question