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Solve the equasion below

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2 Answers

Remember to change the percentage to a decimal by moving the decimal point two places to the left

p =300
r = .04
t = 12

I = pre

I = 300 * .04 * 12

I = $144

the interest is 144 dollars

 

*If this yearly interest and you have 12 months, then you need to change the t to 1 year.  This would produce only $12.

 

The question is asking: what does I equal if I = (p)(r)(t), and p = $300, r = 4% or 0.04 and t = 12

I = (p)(r)(t)

I = ($300)(0.04)(12)

Multiply 300 x 0.04 x 12

I = $144