Question

Most of the savings accounts at stonebrook community bank are earning simple interest. the formula to calculate the amount of simple interest is a=p(1 rt), where a is the total amount, p is the principal amount, r is the interest rate, and t is the time. explain what you need to do to derive a formula for the principal amount if you know: how much simple interest has been earned, the rate, and the amount of time.

Answer 1

P=i/rt
,,,,,,,,,,,, ,,,,,,,,,,,,,
Hope it helps