Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

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
We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.