The amount of interest is $252. The equations or represent the relation relationship between p, (r), (t) and (i).
Step-by-step explanation:
The formula of simple interest is
Where, principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i).
The principal amount is $1,400, interest rate of 6% and the time period of 3 years.
The amount of interest is
Therefore the amount of interest is $252.
The equations or represent the relation relationship between p, (r), (t) and (i).
