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Find the simple interest paid to the nearest cent for: "Principal: $85, rate: 4.5%, time: 3 years" *
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Find the simple interest paid to the nearest cent for: "Principal: $85, rate: 4.5%, time: 3 years" *

User Dan Frank
by
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1 Answer

2 votes
simple interest = PRT/100
where p = principal, r = rate and t = time

85x4.5x3 / 100
= 11.475
≈ 11.50 ( nearest cent )
User Rgdigi
by
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