# ALGEBRA

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If the principal P = \$700, the rate r = 6 1

2 %, and time t = 1 year, find the following.
(a) What is the amount of interest?
\$

(b) What is the future value?

• ALGEBRA -

I = PRT

I = 700 * 0.65 * 1

I = 45.50

45.50 + 700 = ?

• ALGEBRA -

if the p= \$500, the rate r=6 1/2 %and time t=1year
what is the amount of interest?
what is the future value?

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