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Simple Interest Help?

April 28, 2007

The problem US: you just have to calculate the value of $ 8000 for 7 months 15 days per month at 1.5% interest rate? In response, it said $ 900 touches, but I continue to receive, only $ 6.31 I use the formula I = PRT and tried formula And the concession

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4 Responses to “Simple Interest Help?”

  1. Zandra L on April 29th, 2007 9:06 am

    since it’s simple interest.. all you have to do is calculate the interest, then multiply it by the number of months…

    so its:

    8000* .015 *7.5 = $900

    P = 8000
    R = 0.015
    T = 7 months and 15 days = 7.5 months

  2. Curtis K on May 2nd, 2007 10:37 am

    she’s right

  3. kelly on May 3rd, 2007 10:18 am

    Yep she’s on the money.

  4. Rec on May 6th, 2007 3:33 pm

    I = Prt

    I = interest
    P = principle
    r= rate
    t = time

    I = 8000 (.015) (7.5)
    I = $900

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