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.
(1 point)
Responses
True
True
False
(1 point)
Responses
True
True
False
Answers
GPT-4o mini
True
The simple interest formula gives you the interest earned, and to find the total account value at the end of the time period, you need to add the interest amount to the principal amount.
The simple interest formula gives you the interest earned, and to find the total account value at the end of the time period, you need to add the interest amount to the principal amount.