Concept explainers
To Translate: The sentence “simple interest is computed by finding the product of the principal amount p, the interest rate r, and the time t” into a formula.
Answer to Problem 23PPE
The required formula is
Explanation of Solution
Given information:
The sentence “simple interest is computed by finding the product of the principal amount p, the interest rate r, and the time t”
Calculation:
The product of the principal amount, the rate of interest r, and the time t can be represented as:
Therefore,
Or
Chapter 1 Solutions
High School Math 2015 Common Core Algebra 1 Student Edition Grade 8/9
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