7/8 Math URGENT!!! PLZ HELP!! ANYONE????
posted by Christabelle on .
Could ANYONE please explain this formula to me and what the words mean...
I=prt (Intrest= principle x rate x time)

Let's suppose you borrow $500 from your parents. That's the principal. They charge you 2% annual interest. You pay them back at the end of two years.
I = 500 * 0.02 * 2
Multiply to find the amount of interest you'll pay. 
Your a lifesaver! thank you so much!!

You're very welcome!