Which statement is true of this function? Help me please !!!!!
1 answer:
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Simple Interest formula is : , where I = Amount of interest, P= Principal amount, r = rate of interest in decimal and t = time duration in year.
Given in the question that, P = $800 and r = % = 4.75% = 0.0475
<u>a.</u> For t = year ....
So, Jada will receive $19 interest at the end of 1/2 year.
<u>b.</u> For t = 1 year ....
So, Jada will receive $38 interest at the end of 1 year.