$100 at 6% simple interest for 3 years

Question

$100 at 6% simple interest for 3 years

Answer 1

Dear Tasean,

    Principal= $100

   

    Rate= 6%=  .06=6/100      Always change the percentage either to a decimal or a fraction.

   

    time= 3 years

   

    Interest=?

 

 

Simple interest formula:    I= p*r*t     Now, all you need to do is substitute the values into the equation and

 

multiply.

 

 

                                       I=100*(6/100) *3   

 

 

If I have helped you, please give me a thumbs up.

 

                                                                             Susan C.