Question

Find the simple interest principle:950 interest rate:12% time:4 years

Answer 1

Answer:

A=1,406

Step-by-step explanation:

simple interest formula: A=P(1+rt)

where P=950, r=12%, and t=4 years

A=950(1+(0.12·4))

A=950(1+0.48)

A=950(1.48)

A=1,406