Find the interest. All rates are annual interest rates. Principal $1,000. Rate 8.5 percent Time 3 year

Question

asked Jan 17, 2021 46.2k views

2 Answers

Tom Netzband · Answer 1 · 2021-01-18T04:23:09+0000

Answer:$255

Explanation:

Principal(p)=$1000

Rate(r)=8.5%

Time(t)=3years

Simple interest(SI)=?

SI=(pxrxt)/100

SI=(1000x8.5x3)/100

SI=25500/100

SI=$255