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# Simple Interest

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Hey I Forgot How To Do This. How Do I Solve For $1500 at 9% For 2 Years? Apr 17, 2020 ### 3+0 Answers #1 +20812 +1 Use the formula: A = P(1 + r)y A = 1500(1 + 0.09)2 A = 1500(1.09)2 Now, finish the calculation. Apr 17, 2020 #2 0 The Heading of his/her question says "Simple Interest". 1500 x 0.09 x 2 =$270 Simple interest for 2 years.

$1,500 +$270  = \$1,770 - Balance after 2 years.

Apr 18, 2020
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$$I=\frac{PRT}{100}$$ where $$I$$ is the interest (What you will gain extra after the 2 years)

$$P$$ is the principle (The money you put)

$$R$$ is the rate of 9% etc..

The equation above finds the interest and not the total money!

Indeed, total money after 2 years is just the same equation +p

$$A=\frac{PRT}{100}+P$$

Now if you want interest to use this:  $$I=\frac{PRT}{100}$$

$$I=\frac{1500*9*2}{100}=270$$ dollars extra

Total amount: $$270+1500=1770$$

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Apr 18, 2020