P = 3000 r = 7% t = 2

Question

Mathematics

Mckenzie

15 July, 16:36

P = 3000 r = 7% t = 2

+3

Answers (2)

Know the Answer?

Fabian Mitchell · Answer 1

Hi there

To find The interest earned

The formula of the simple interest is

I=prt

I interest earned?

P principle 3000

R interest rate 0.07

T time 2 years

So

I=3,000*0.07*2

I=420

Good luck!

Adyson Moses · Answer 2

Is the question asking for interest? If so, just use the equation interest=t=principal*rate*time (I=PRT)

In this case, we just mulitiply 3000 by 2 and 0.07 to get 420. Now, just add this to the principal amount to get $3420 as the ending amount.