What is the simple interest on 500 for 5 years at the rate of 5% per annum

asked Nov 17, 2022 156k views

3 votes

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7 votes

Answer:

125

Explanation:

Formula Simple interest:

P x r x t

Bryce Cutt answered Nov 17, 2022

4.5k points

2 votes

I = principal x rate x time
I = 500 x .05 x 5
I = 125

( time is always expressed in years and you convert rate to a decimal )

Karmen Blake answered Nov 22, 2022

4.4k points

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