3 years ago

What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?

1 answer:

ozzi3 years ago

7 0

Remember that you can do anything to an equation as long as you do it to both sides

so
I=PRT
divide both sides by RT
=P

P=?
I=40
R=10%=0.1
T=5
plug it in
=P
=P
80=P

answer is B, $80

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