+0  
 
0
190
1
avatar

Tahmar knows the formula for simple interest is I = Prt, where I represents the simple interest on an amount of money, P, for t years at r rate. She transforms the equation to isolate P : P = P : P equals StartFraction I Over r t EndFraction.. Using this formula, what is the amount of money, P, that will generate $20 at a 5% interest rate over 5 years?

off-topic
 Feb 3, 2020
 #1
avatar+21931 
+1

P = I/rt       you are looking for P

                  you are given :      I =20    r = .05  (this is 5%)  and t = 5 years  

                           plug in these values to calculate P   ...............

 Feb 3, 2020

24 Online Users

avatar
avatar
avatar