Question

What is the simple interest for a principal of $650 invested at a rate of 9% for 5 years?

Answer 1

Answer: 292.50 dollars

Work Shown:

P = 650 is the the principal.

r = 0.09 is the interest rate in decimal form.

t = 5 is the number of years.

i = P*r*t

i = 650*0.09*5

i = 292.50 is the simple interest.