i=
p=1250
r=9.8%
t=6 years
i = prt
i = 1250 * 0.098 * 6
i = ?
How can you multiply those three numbers and only get 7?
To find the value of 'i', we can use the formula for calculating simple interest, which is given by:
i = (p * r * t) / 100
Where:
- 'i' is the interest
- 'p' is the principal amount
- 'r' is the rate of interest
- 't' is the time period
Substituting the given values into the formula:
i = (1250 * 9.8 * 6) / 100
i = (7350) / 100
i = 73.50
Therefore, the value of 'i' is 73.50.