An account earns simple interest. Find the interest earned principal, interest rate, or time

Question 1 interest earned ? principal $1450 interest rate 9% time 5 years

Question 2 interest earned $10 principle $250 interest rate 4% time ?

Nerd123
Jan 30, 2018

#1**+1 **

Simple interest formula :

Interest earned = Principal * Interest Rate * Time (in years)

So......for the first one

Interest earned = 1450 * (.09) * (5) = $652.50

The second one is a little trickier....we have...

10 = 250 * .04 * Time simplify

10 = 10 * Time divide both sides by 10

1 = Time

So ... 1 year

CPhill
Jan 30, 2018