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What is the simple interest of $200 at 10% p.a. for 5 years

 May 29, 2014

Best Answer 

 #1
avatar+130511 
+5

Simple interest is given by:

I = Prt     where

I = accumulated interest

P = amount invested = $200

r = the interest rate = 10% = .10

r = the time = 5 years

So we have

I = 200(.10)(5) =  $100

 May 29, 2014
 #1
avatar+130511 
+5
Best Answer

Simple interest is given by:

I = Prt     where

I = accumulated interest

P = amount invested = $200

r = the interest rate = 10% = .10

r = the time = 5 years

So we have

I = 200(.10)(5) =  $100

CPhill May 29, 2014

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