Question

Find the interest on $6,000 at 5% for one year​

Answer 1

300$

I=P×r×t

P= is the principal amount, $6000.00.

r=is the interest rate, 5% per year (you have to put it in decimal form to multiply)

t= is the time involved, which is 1 year

To find interest multiply 6000 × 0.05 × 1