Question

Find the simple interest The simple interest is $ (Round to the nearest cent as needed) Principal Rate Time in Months $10000 4% 3

Answer 1

Given :

Principal = P = $10000

Rate = r = 4% = 0.04

Time = t = 3 months = 3/12 year = 1/4 year

The simple interest = I :

`I=P\cdot r\cdot t=10000\cdot0.04\cdot(1)/(4)=10000\cdot0.01=100`

So, the answer is : the simple interest = $100