Posted by **Caleb** on Wednesday, February 9, 2011 at 8:56pm.

I need help figuring out simple interest and the balance of an account. Example P = $525, r = 6%, t + 9 years

- Pre Algebra -
**helper**, Wednesday, February 9, 2011 at 9:22pm
The formula for simple interest is,

I = PRT (Interest = Principle * Rate * Time)

Balance of account ?

t + 9 years?

- Pre Algebra -
**tia**, Thursday, March 3, 2011 at 7:12am
two sums of money totaling 15000 earn 5% and 7% annual interest. if the total interest from both investments amounts to $870, how much is invested at each rate?

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