3 years ago

If the principal is $4,500 and the rate of interest is 8%, what is the amount of interest after one year? Formula is I =PRT

Mathematics

1 answer:

emmasim [6.3K]3 years ago

7 0

Step-by-step explanation:

I=?

P= $4500

R=8%=0.08

T=1 year

8%*0.01= 0.08

I=(4500)(0.08)(1)

(4500)(0.08)=360

360*1=360

The interest after one year is $360

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