Complete Question
I = prt is an example of
• a variable
• an expression
• a constant
• a formula
Answer:
A formula
Step-by-step explanation:
I = prt is an example of a formula called Simple Interest.
Simple Interest can be defined as the formula that is used to calculate the interest that is accumulated on a particular amount of money which was saved in a financial institution or loaned out to a person at a given interest rate for a particular period of time.
The formula for Simple Interest is Expressed as:
I = PRT
Where :
I = Simple Interest
P = Principal = Amount saved, or loaned out
R = Interest rate that is given in percentage form
T = Time that has elapsed in Years.
