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)
• True
• False
*Remember to use your STAAR Reference Sheet for support!
(1 point)
• True
• False
Answers
GPT-4o mini
**True**
The simple interest formula calculates the interest earned, and to find the total account value at the end of the time period, you must add that interest amount to the principal amount.
The simple interest formula calculates the interest earned, and to find the total account value at the end of the time period, you must add that interest amount to the principal amount.