Answered

At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Simple Interest:

54000 x 0.038 x (3/12) = 
 I don't know what I'm doing wrong

Sagot :

The simple interest rate equation is I = Prt
I = interest
P = principle ($54,000)
r = rate (3.875%)
t = time (3 months, so .25 years)

I = Prt
I = (54,000)*(.03875)*(.25)
I = $523.125

ProjectTermina
I = Prt
I = 54000*.03875*3
54000 is the principal
.00875 is the same thing as 3+(7/8) %, because to make a decimal a percentage you multiply by 100
3 is the time
I = 6277.5
That's the amount that has been made off of interest alone. If you're looking for the total amount of money, it's 54000+6277.5=60277.5
Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.