Question

Use I = PRT to solve. (time in years)
P= $400
R= 9%
T= 0.25 years Find I

(remember, 9% = 0.9 in decimal form

Answer 1

Simple interest is $ 9

Solution:

Given that,

P = $ 400

$R = 9 \% = \frac{9}{100} = 0.09$

T = 0.25 years

The formula for simple interest is:

$I = P \times R \times T$

Where,

I is the simple interest earned

R is the rate of interest in decimal

T is the number of years

Substituting the values we get,

$I = 400 \times 0.09 \times 0.25\\\\I = 36 \times 0.25\\\\I = 9$

Thus simple interest is $ 9