Question

Find the simple interest for each principle,rate,and time.Round to the hundredths place

44.) $500 invested at 6 1/4 for 5 years
45.) $769 borrowed at 5% for 13 months

Answer 1

`\sf~I=prt`

Plug in what we know:


`\sf~I=(500)(6 1/4\%)(5)`

Multiply:


`\sf~I=156.25`

Do it with the next one:


`\sf~I=prt`

Plug in what we know:


`\sf~I=(769)(5\%)(13)`

Multiply:


`\sf~I=499.85`