Use the formula for simple interest: i = p r t, where i is the interest earned, p is the principal amount, r is the interest rate as a decimal fraction, and t is the time in years.
<span>There are two possible ways where you can express this. First, is by presenting the equation net of 5 percent which is "x=1.0355n+2.6505m". The other way to express such is by presenting it with gross amount which is "x= (1-0.05)(1.09n+2.79m)" </span>
