Mathematics, 01.07.2021 15:50 pxrnstar4613
If money is invested for a short period of time, simple interest is paid using the following formula.
I = Prt
P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, the money is invested.
Given P = $2,000, r = 3%, and I = $180, how long was the money invested?
A.
4 years
B.
0.03 years
C.
2 years
D.
3 years
Answers: 2
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If money is invested for a short period of time, simple interest is paid using the following formula...
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