(10 * 50) / 100
Multiply 10 and 50
500/100
500 divide by 100
The answer is 5
Hello! For these kinds of problems, the formula for finding the principal is I / rt. That means, divide the simple interest by the rate and time (rate should be in decimal form). In order to find simple interest, just do prt, which means multiply the principal (initial amount) by the rate (simple interest rate, in decimal form) by the amount of time (could be in months or years). With that being said, if you solve it correctly, here are your answers:
Principal: $14,181
Interest rate: 10%
Time: 4 years
Simple Interest: $5,672.40
Principal: $83,079
Interest rate: 9%
Time: 2 years
Simple Interest: $14,954.22
Principal: $659,379.96
Interest rate: 11.7%
Time: 28 months
Simple Interest: $179,753.57
Principal: $18,936
Interest Rate: 2.41%
Time: 3 Months
Simple Interest: $114.09
Note: If the time is in months, be sure to convert it into a decimal and multiply. If a decimal repeats, just convert it to the nearest hundredth.
The last one i think is correct, hope i could help??
