Q: p = $300
r = 7%
t = 2
What is i?
$4.20
$42.00
$420.00

A: This is a simple interest problem. The formula for calculating simple interest is principle (P) * Interest rate (R) * Time in years (T).
P * R * T
$300 * .07 * 2 = $42 interest

shifa saleheen|Points 3609|

shifa saleheen|Points 3609|

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Asked 7/4/2011 3:14:57 PM

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