I dont get interrest questions

simple interest equations:

A = P(1+rt) = P + Prt

I = Prt

A = accumulated amount

P = principal

r = interest rate

t = time (in years)

angie borrowed $400 (P), so she has to pay it back with interest (I)

I = Prt = $400*0.065*3 = **$78**

the total paid back is

A = P + I = $400 + $78 = **$478**

## Comments

Dylan, is this interest annual or monthly?