Question

simple intrerest is computed by finding the product of the principle amount p , the intrerest rate r, and the time t

Answer 1

The formula we use to calculate simple interest is I=Prt I = P r t . To use the simple interest formula we substitute in the values for variables that are given, and then solve for the unknown variable. It may be helpful to organize the information by listing all four variables and filling in the given information.