Answer:
In this case, the equation that models the value of an initial investment of P dollars in t years at an annual interest rate of r is given by A = Pert.
Step-by-step explanation:
The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years. The rate r must be converted from a percentage into decimal form.
Then, 2,000 = 1,000 * r * 10 ;
Finally, r = 2 ÷ 10 = 20 ÷ 100 = 0.2
hope this helps you
77 is the median score for rhis propblem
Hi there
The simple interest formula is
I=prt
I interest changes
P amount of the loan 6000
R interest rate
T time( number of months/12 months)
The interest in 36 months at a 10%
I=6,000×0.1×(36÷12)=1,800
The interest in 48 months at a 12%
6,000×0.12×(48÷12)=2,880
she will save
2,880−1,800=1,080
Good luck!
