I=prt
It says find the amount of interest earned by depositing $100 into an account that earns 2%interest for 1 year.How would I solve it...Help me plzz
2006-12-03 06:48:02 · 6 answers · asked by karla g 1 in Science & Mathematics ➔ Mathematics
By your formula: I = Prt
I = ($100)(.02)(1) = $2
2006-12-03 06:53:02 · answer #1 · answered by cainofnod 2 · 0⤊ 0⤋
(P amount)= 100
rate = .02
time = 1
100 * .02 * 1 = 2.00
intrest = 2.00
2006-12-03 14:56:28 · answer #2 · answered by Brian D 5 · 0⤊ 0⤋
I=100x.02x1
P-the initial value
r-interest rate
t-time (years)
I- interest earned
so interest earned= $2
2006-12-03 14:53:15 · answer #3 · answered by NW 2 · 0⤊ 0⤋
I = interest, p=principal ($100), r=rate 2%=0.02), t=time (1year)
Thus I=(100)(0.02)(1) = $2.00
Have a great holiday!!
2006-12-03 15:00:42 · answer #4 · answered by Eds 7 · 0⤊ 0⤋
iono y u ask me
I=100x.02x1
P-the initial value
r-interest rate
t-time (years)
I- interest earned
so interest earned= $2
2006-12-03 14:54:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
100.00 * .02 = 2.00
2006-12-03 15:30:22 · answer #6 · answered by ikeman32 6 · 0⤊ 0⤋