Mr ramos invest $500 at a simple interest rate of 6%. How much interest will he earn in one year
2 answers:
Answer: $30
Step-by-step explanation:
Simple Interest = P × R × T / 100
where p= principal R= rate and
T = time
P= $500
R=6
T= 1
Simple Interest = $500×6×1 / 100
=$3000 / 100
=$30
Answer
=30
Step-by-step explanation:
principal*rate*time
Principal:$500
Rate:6% =6/100
Time:1 year
$500*6/100*1=
$30
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