how do I work this problem simple intrest
I=Prt
P= $54 r=4% and t=9months
I = 54 * 0.04 * 0.75
I did this and got 1.62 am I suppose to just end there or divide by another
That's the problem. That's the end of it. You've multiplied P*r*t, what else is left to do?
The interest is $1.62.
I don't mean to be difficult that's what I had also the computer kept saying I was wrong. Sorry for asking
I understand the formula given is to calculate interest, but does the question ask to calculate interest or amount owing?
To calculate simple interest, you can use the formula:
I = P * r * t
Let's plug in the given values:
P = $54 (the principal amount)
r = 4% (the interest rate)
t = 9 months (the time period)
Now, we'll substitute these values into the formula:
I = $54 * 0.04 * 9
To simplify, we can first convert the percentage to decimal form by dividing it by 100:
I = $54 * 0.04 * 9 = $54 * 0.36
Now, multiply the principal amount ($54) by 0.36 to calculate the simple interest:
I = $19.44
Therefore, the simple interest on a principal amount of $54, with an interest rate of 4% over a period of 9 months, is $19.44.