Question

Suppose you deposited ​$100 in a savings account 4 years ago. The simple interest rate is 2.9%. The interest that you earned in those 4 years is ​$11.60. Which of the following​ is/are true?

A. t=4
B. p=2.9%
C. I=11.60
D. r=100

Answer 1

T=4

l=11.60

Explanation:

T is for time,and time given is 4.

so t=4 years

and Interest given is 11.60 bucks

so I=11.60

keep in mind that PRINCIPAL IS NEVER A PERFENTAGE!

RATE IS ALWAYS A PERCENTAGE!

Here, principal is 100 bucks and rate is 2.9%

also keep in mind that principal isnalways greater than interest.

thank you