Question

Use I = PRT to solve. (time in years)

P= $400
R= 9%
T= 0.25 years Find I

(remember, 9% = 0.9 in decimal form

Answer 1

Simple interest is $ 9

Solution:

Given that,

P = $ 400

`R = 9 \% = (9)/(100) = 0.09`

T = 0.25 years

The formula for simple interest is:

`I = P * R * T`

Where,

I is the simple interest earned

R is the rate of interest in decimal

T is the number of years

Substituting the values we get,

`I = 400 * 0.09 * 0.25\\\\I = 36 * 0.25\\\\I = 9`

Thus simple interest is $ 9