Which equation demonstrates the use of a simple interest formula, mc002-1.jpg, to compute the interest earned on $70 at 3% for 12 years?

Step-by-step explanation:

Equation to calculate the simple interest I is

where P = principal amount

r = rate of interest

t = time or duration

If P = $70

r = 3%

t = 12 years

Therefore interest I = (70×3×12)/100 = $25.2

1/3 + 1/3 ≠ 2/6 because 1/3 alone = 2/6  

step by step explanation:

1/3 + 1/3 = 2/3       2/3=4/6