Tahmar knows the formula for simple interest is I = Prt, where I represents the simple interest on an amount of money, P, for t

Question

3 years ago

10

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?
$

Mathematics

2 answers:

klasskru [66] · Answer 1 · 2022-04-30T11:06:35+03:00

klasskru [66]3 years ago

7 0

Answer:

The answer is $80

Step-by-step explanation:

I just got it right

alexira [117] · Answer 2 · 2022-04-30T08:53:06+03:00

alexira [117]3 years ago

4 0

Answer:

80 dollars

Step-by-step explanation:

l=prt ⇒ p=l/rt

20=p(0.05)(5)

P=20/0.25=80 dollars