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16 October, 12:47

The formula for finding simple interest is I = Prt, where I is the interest, P is the principal, R is the rate of interest, and T is the time in years that the principal has been on deposit. Evaluate I = Prt when P = + 3,000, r = 0.06, and t = 2 years.

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  1. 16 October, 15:18
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    You have the formula, all you need to do is input all the variables given to you in the formula.

    I=Prt

    => I=3000*0.06*2

    => I=360
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