Question

Find the simple interest earned, to the nearest cent, for the principal, interest rate, and time. $975, 1.5%, 2 years.

Answer 1

6:08 ^
ANSWER
29.25
1 We know that:
(P = 975
R = 1.5%
(T =2
2 Substitute
{P = 975
R = 1.5% into formula
[T = 2
I=Prt
1 = 975rt
3 Calculate: 2 × 975 × 0.015
29.25
4 Round 29.25 to the required place Click for video about rounding
29.25
Show more Steps

Answer 2

$29.25

Explanation:

`I=Prt`

I=Interest

P=Principal

r= rate

t= time

975 x 0.015 x 2= 29.25