3 years ago

Find the amount of simple interest earned. Principal: $300. Annual interest rate: 6.5% Time: 3 years

Mathematics

1 answer:

Anettt [7]3 years ago

6 0

Answer:

The simple interest is $58.5

Step-by-step explanation:

Mathematically;

Simple interest = PRT/100

where p is principal = $300

R is rate = 6.5%

T is time = 3 years

Substituting these values in the simple interest equation, we have that;

S.I = (300 * 6.5 * 3)/100 = $58.5

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