Question

Find the simple interest.

Principal
Rate
Time
$3000
19%
15 years
The amount of simple interest earned is $

Answer 1

$8550

Explanation:

Principal = $3000

Rate = 19%

Time = 15 years

Simple Interest = Principal * Rate * Time ÷ 100

= $3000 * 19% * 15 ÷ 100 = $8550

Therefore the simple interest earned is $8550