Finding Simple Interest:
Principal: 5,000.00
Rate: 16%
Time: 1 year
Can u also show me how to do it, I'll give you brainliest :>
Principal: 5,000.00
Rate: 16%
Time: 1 year
Can u also show me how to do it, I'll give you brainliest :>
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Simple Interest= P*R*T
5,000*0.16*1
=800
Just convert the percent to decimal in order to solve .
Follow the formula and simplify..
Answer:
$800
Step-by-step explanation:
Interest = Principal x Rate x Time
= $5000 x 16% (or 0.16) x 1 year
Therefore, the answer is $800.