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30 April, 07:14

To find simple interest you multiply the principal (in dollars) the interest rate (as a decimal) and the time in years the equation 24.00=400. 0.015.4 shows how to find the simple interest for a certain account after 4 years.

A. what is the interest rate as a percent

B. how much is the simple interest?

C. what is the principal?

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  1. 30 April, 10:38
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    Here we have $400 originally and it is invested at an interest rate of 0.015 for 4 years.

    Therefore we can say that the interest rate is 0.015 * 4 * 100 = 6% for the 4 years.

    Simple interest is 6% / 4 = 1.5%.

    And the principal is $400.
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Home » Mathematics » To find simple interest you multiply the principal (in dollars) the interest rate (as a decimal) and the time in years the equation 24.00=400. 0.015.4 shows how to find the simple interest for a certain account after 4 years. A.
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