Question
The simple interest formula only gives the interest earned. You will need to add the interest amount to your principal amount to find the total account value at the end of the time period.
*Remember to use your STAAR Reference Sheet for support!
(1 point)
Responses
True
True
False
*Remember to use your STAAR Reference Sheet for support!
(1 point)
Responses
True
True
False
Answers
GPT-4o mini
True.
The simple interest formula calculates only the interest earned on the principal amount. To find the total account value at the end of the time period, you need to add the interest amount to the principal.
The simple interest formula calculates only the interest earned on the principal amount. To find the total account value at the end of the time period, you need to add the interest amount to the principal.