Mathematics, 31.05.2020 06:59 zoieihazel

If money is invested for a short period of time, simple interest is paid using the following formula.
I = Prt

P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, the money is invested.

Given P = $2,500, r = 3%, and t = 6 years, how much interest is paid?

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If money is invested for a short period of time, simple interest is paid using the following formula...