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4 votes
P=$300
R=7%
T=2
What is I?
A. $4.20
B. $42.00
C. $420.00

User Adel Sal
by
8.3k points

1 Answer

3 votes

The simple interest formula is presented as I = PxRxT where I is the interest, P is the principal amount, R is the rate and T is the time.

I = PxRxT

I = $300x.07x2

I = $42

User Testa Abalez
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8.1k points