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4 years ago

14

Li invest money in a savings account. She wants to know the amount of simple interest that she will earn 6 years at 3.75 percent

What additional information does she needs to find this amount

1 answer:

Sloan [31]4 years ago

4 0

Answer:

<h2>Principal</h2>

Step-by-step explanation:

In Business, the formula for calculating simple interest on an amount of money saved is expressed using the formula below.

Simple Interest = Principal * Rate * Time/100

From the question, the parameters given are the time which is 5 years and the rate at 3.75%. There is no information on the principal and <u>before we can calculate the simple interest that Li will earn, the her principal must be made known</u>. Principal is like the amount she initially saved in her account.

<em>Hence, </em><em>the additional information that she needs</em><em> to find the simple interest </em><em>is her principal.</em>

<em />

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3 years ago

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Step-by-step explanation:

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