Mathematics
JamesBaron
27

Simple interest on a bank loan can be calculated by multiplying the principal times the interest rate times the time. In the formula 4072-01-02-03-00_files/i0330000.jpg, what does I stand for? a. time c. principal b. interest rate d. simple interest

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JamieJamieJamie

Simple interest formula involves the principal, interest rate, and time. Usually, the principal is represented by P. interest rate is represented by r. time is represented by t. interest is represented by i. simple interest = principal * interest rate * time I = P * r * t I = Prt I stands for D. SIMPLE INTEREST.

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