Simple Interest
Principle=360, Rate=7%, Time=8 years. Calculate the Interest

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Mathematics

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Simple Interest
Principle=360, Rate=7%, Time=8 years. Calculate the Interest

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Pinkster104id Pinkster104id · Answer 1

Pinkster104id Pinkster104id

The formula for simple interest is Interest= Principle·Rate·Time When we plug it in it is Interest= 360·0.07·8 (7% becomes 0.07 when changed to decimal) Multiply and intrest equals $201.60. I hope that this helped you! :)

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Panoyinid Panoyinid · Answer 2

Panoyinid Panoyinid

I = Prt
I = (360)(0.07)(8)
I = 201.60
$360 + $201.60
$561.60

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