Question
Sally deposited $3600 and the annual rate of interest is 6.5%. What is the interest amount for a 30-month period?
I = prt.
I = amt of interest
p = principal
r = rate (0.065 per year)
t = time in years = 2.5 years
I = 3600*0.065*2.5 = ??
I = prt.
I = amt of interest
p = principal
r = rate (0.065 per year)
t = time in years = 2.5 years
I = 3600*0.065*2.5 = ??