Which of the following statements is true?

1. Simple interest can be found by the formula I = Prt. T stands for time in months.

2. Compound interest can be found by a formula that gives both the original principal plus the amount of interest.

3. When you calculate compound interest, only the amount of interest is found.

4. When you calculate simple interest, I = the amount of interest plus the principal

Question

06-01-2021
Mathematics

Answered

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Which of the following statements is true?

1. Simple interest can be found by the formula I = Prt. T stands for time in months.

2. Compound interest can be found by a formula that gives both the original principal plus the amount of interest.

3. When you calculate compound interest, only the amount of interest is found.

4. When you calculate simple interest, I = the amount of interest plus the principal

Sagot :

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