Question

Tahmar knows the formula for simple interest is I = Prt, where I represents the simple interest on an amount of money, P, for t years at r rate. She transforms the equation to isolate P : P = P : P equals StartFraction I Over r t EndFraction.. Using this formula, what is the amount of money, P, that will generate $20 at a 5% interest rate over 5 years?
$

Answer 1

Answer:

The answer is $80

Step-by-step explanation:

I just got it right

Answer 2

Answer:

80 dollars

Step-by-step explanation:

l=prt ⇒ p=l/rt

20=p(0.05)(5)

P=20/0.25=80 dollars