Question

use the simple interest formula I=Prt and elementary algebra to find the missing quantities in the table below.

Answer 1

Given

P= $100

R=13% or 0.13

T= 2years

The simple interest formula I=Prt

`\begin{gathered} I\text{ =}100*0.13*2 \\ I=26 \end{gathered}`

The Interest is $26