Question

What is the simple interest value missing in the table? Principal $2,500 Interest rate 3.5% Time 5 years Interest ? $43.75 $437.50 $4,370.50 $43,750.00

Answer 1

Answer:

$4,3750.00

Step-by-step explanation:

Simple interest is calculated using the equation:

I = Prt

I = Interest

P = Principal

r = Rate

t = Time (years)

I = 2,500 * 3.5 * 5

43750 = 2,500 * 3.5 * 5

Therefore, the interest is $43750.00

Answer 2

Answer:

Step-by-step explanation:

Simple interest = PTR/100

Where P=$2500, T=5years, R=3.5%

Simple Interest= $2500×5×3.5/100

=$43750