Question

Find the simple interest paid to the nearest cent for each principal, interest

Rate, and time.
$1,450, 2.5%, 2 years
and
$390, 3%, 5 years

Answer 1

S I = PRT/100

=1450×2.5×2/100

=1455/100

=14.55

S I =PRT/100

390×3×5/100

5850/100

58.5