# Math

What is simple interest?
Like I=Prt

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1. Simple interest is the amount you earn on an investment or pay on a loan.

If you borrow \$1,000 at 5% interest for a year, you'll pay \$50 interest.

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## Similar Questions

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Can you check this one for me i want to make sure. The simple interest I on a principal of P dollars at Interest rate r for time t, in years, is given by I=PrT.Find the simple interest on aprincipal of \$6000 at 3% for 2years. I

asked by jasmine20 on December 12, 2006
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