Find the simple interest on $500 at six percent for one year

Question

Mathematics

Kerr

15 January, 12:19

Find the simple interest on $500 at six percent for one year

+5

Answers (1)

Know the Answer?

Payton Stanley · Answer 1

Answer: $30

Step-by-step explanation: The formula for simple interest is principal x rate x time.

Putting your numbers into the formula, it will look like this:

I = 500 x. 06 x 1

I = 30 x 1

I = 30

The interest on $500 for one year is $30.