Find the simple interest. (The rate is an annual rate unless otherwise noted. Assume 360 days in a year.)
-$$\mathrm { p } = \$ 690 , \mathrm { r } = 3 \% , \mathrm { t } = 1 \frac { 1 } { 4 } \text { years }$$
A) $25.88
B) $16.56
C) $287.50
D) $2.59

Question

Quizplus · Accepted Answer

The simple interest can be calculated using the formula $I = P \times r \times t$, where $I$ is the interest, $P$ is the principal amount, $r$ is the rate of interest per year, and $t$ is the time in years. Substituting the given values: $I = 690 \times 0.03 \times 1.25 = \$25.88$.

Find the Simple Interest p=$690,r=3%,t=114 years \mathrm { p } = \$ 690 , \mathrm { r } = 3 \% , \mathrm { t } = 1 \frac { 1 } { 4 } \text { years }p=$690,r=3%,t=141​ years

Find the Simple Interest $\mathrm { p } = \$ 690 , \mathrm { r } = 3 \% , \mathrm { t } = 1 \frac { 1 } { 4 } \text { years }$