The simple interest formula is I = Prt, where I represents simple interest on an amount, P, for t years at a rate of r, where r

Question

3 years ago

10

The simple interest formula is I = Prt, where I represents simple interest on an amount, P, for t years at a rate of r, where r

is expressed as a decimal.
What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?
a $60
b $80
c $90
d $100

Mathematics

2 answers:

strojnjashka [21] · Answer 1 · 2022-05-18T10:36:24+03:00

strojnjashka [21]3 years ago

8 0

Answer:

b $80

Step-by-step explanation:

Interest = Principal x Interest Rate x Time

$40 = P x 0.1 x 5

$40 = 0.5 P

Dividing the equation by 0.5 we get;

P = $40 / 0.5

P = $80

dybincka [34] · Answer 2 · 2022-05-18T11:45:24+03:00

dybincka [34]3 years ago

8 0

Answer:

b

Step-by-step explanation:

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