Question

Find the simple interest earned to the nearest cent for each principal, interest rate, and time. $750, 7%, 3 years

Answer 1

750 x 3 x7 hope that helps

Answer 2

This one is easy! You just divide the original amount by 100 (move the decimal point over two places)

750 / 100 = 7.5

Now you multiply that by the interest rate, which in this case is 7.

7.5 x 7 = 52.5

Now finally, you multiply that by the amount of years. In this case, 3.

52.5 x 3 = 157.5

That would be the amount added after three years! Remember, this is simple interest. Compound interest is a little more complex.