posted by Caleb .
I need help figuring out simple interest and the balance of an account. Example P = $525, r = 6%, t + 9 years
The formula for simple interest is,
I = PRT (Interest = Principle * Rate * Time)
Balance of account ?
t + 9 years?
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?