anonymous
  • anonymous
$1500 is invested for 6 months at an annual simple interest rate of 14%. How much interest will be earned?
Mathematics
chestercat
  • chestercat
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dumbcow
  • dumbcow
Interest = P*i*t = 1500*0.14*(1/2) because 6 months is 1/2 a year =105
anonymous
  • anonymous
so if you wanted to find the percent you would i*r*t?
dumbcow
  • dumbcow
whats r? if you want to find the interest rate as percent i% = (Interest/P*t) *100

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anonymous
  • anonymous
rate
dumbcow
  • dumbcow
ahh ok im using i for the rate,
anonymous
  • anonymous
ohh so interest & rate are the same?
dumbcow
  • dumbcow
kinda i = interest rate when i typed out Interest i meant the dollar amount of interest earned so interest rate and rate are the same thing but Interest is different
dumbcow
  • dumbcow
sorry for confusing you
anonymous
  • anonymous
a little lol
anonymous
  • anonymous
but thanks for the mini lesson
dumbcow
  • dumbcow
:)

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