Question

I need help with this. Please explain
I=PRT
P=5,600
R=0.2
T=4

Answer 1

Explanation:

The formula "I=PRT" is the simple interest formula, where:

I = interest

P = principle (the initial amount of money)

R = interest rate (as a decimal)

T = time (in years)

Given the values of P, R, and T:

P = 5,600

R = 0.2

T = 4

We can plug these values into the formula to find the interest:

I = P * R * T = 5,600 * 0.2 * 4 = 4,480

So, the interest earned on a principle of $5,600 at an interest rate of 0.2 (or 20%) for 4 years would be $4,480.