Question
Translate the sentence into an equation or formula.
Simple interest I is computed by finding the product of the principal amount p, the interest rate r, and the time t.
Simple interest I is computed by finding the product of the principal amount p, the interest rate r, and the time t.
Answers
GPT-4o mini
The formula for simple interest \( I \) can be expressed as:
\[ I = p \times r \times t \]
where:
- \( I \) is the simple interest,
- \( p \) is the principal amount,
- \( r \) is the interest rate (in decimal form),
- \( t \) is the time (usually in years).
\[ I = p \times r \times t \]
where:
- \( I \) is the simple interest,
- \( p \) is the principal amount,
- \( r \) is the interest rate (in decimal form),
- \( t \) is the time (usually in years).