Question

Alice earns simple interest on a principal of $1,400 at an annual interest rate of 6% for the period of 3 years. What equation shows the relationship between principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (I).

Answer 1

The amount of interest is $252. The equations or represent the relation relationship between p, (r), (t) and (i).

The formula of simple interest is

Where, principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i).

The principal amount is $1,400, interest rate of 6% and the time period of 3 years.

The amount of interest is

Therefore the amount of interest is $252.

The equations or represent the relation relationship between p, (r), (t) and (i).

Answer 2

The amount of interest is $252. The equations or represent the relation relationship between p, (r), (t) and (i).

Explanation:

The formula of simple interest is

Where, principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i).

The principal amount is $1,400, interest rate of 6% and the time period of 3 years.

The amount of interest is

Therefore the amount of interest is $252.

The equations or represent the relation relationship between p, (r), (t) and (i).