please help I am really confused, this is the third time I'm asking for help, and all the previously given answers were wrong

1290

Step-by-step explanation:Interest is the amount of money paid for either borrowing money or earning money on a deposit.

Simple Interest is interest that is compounded on the original principal only.

=

I = Interest

P = principal (present value)

r = interest rate (% to decimal)

t = time in years

Example 1: Find the simple interest on a $1000 investment made for 3 years at an interest rate of

5% per year.

Future Value with Simple Interest

= (1 + )

F = Future Value

P = Principal(present value)

r =interest rate

t = time in years

Example 2: Mike borrowed $1,200 at 10% simple interest per year. How much is due when the

loan matures in 9 months?