In the formula I=P·r·t, what does P stand for? a. Percent: the interest rate expressed as a percentage b. Principal: the amount

Question

3 years ago

13

of money you initially invested c. Period: how often the interest is calculated d. Payout: how much money you end up with

2 answers:

love history [14] · Answer 1 · 2022-07-25T21:59:42+03:00

5 0

b. Principal: the amount of money you initially invested

Sergio [31] · Answer 2 · 2022-07-25T23:06:06+03:00

Answer:

b. Principal: the amount of money you initially invested

Step-by-step explanation:

We know that,

Simple interest on an amount is calculated by the formula,

$I=P.r.t$

Where, P is the principal amount that is invested initially,

r is the rate of interest per period,

t is the number of periods.

Hence, P in the given formula must stand for principal amount.

⇒ Option b would be correct.