Find the simple interest on 500 at 6% for 1 year
1 answer:
Answer:
Interest = $30
Step-by-step explanation:
Formula:
I = prt or I = p · r · t
So:
I = p r t
I = ($500)(.06)(1) <--- Just multiply all of these numbers and you get the final answer of:
Interest = $30.00 or just $30
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12*12=144
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