Finite Math Examples

$p = 1985$ , $r = 0.062$ , $t = \frac{40}{52}$

Step 1

Simple interest is calculated on the original principal only. Accumulated interest from prior periods is not used in calculations for the following periods.

$i = p \cdot r \cdot t$

Step 2

Solve the equation for $i$ .

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Step 2.1

Remove parentheses.

$i = p \cdot r \cdot t$

Step 2.2

Multiply $p r$ by $t$ .

$i = p r t$

Step 3

Substitute the known values into the formula.

$i = (1985) \cdot (0.062) \cdot (\frac{40}{52})$

Step 4

Simplify the right side.

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Step 4.1

Simplify $(1985) \cdot (0.062) \cdot (\frac{40}{52})$ .

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Step 4.1.1

Multiply $1985$ by $0.062$ .

$i = 123.07 \cdot \frac{40}{52}$

Step 4.1.2

Cancel the common factor of $40$ and $52$ .

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Step 4.1.2.1

Factor $4$ out of $40$ .

$i = 123.07 \cdot \frac{4 (10)}{52}$

Step 4.1.2.2

Cancel the common factors.

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Step 4.1.2.2.1

Factor $4$ out of $52$ .

$i = 123.07 \cdot \frac{4 \cdot 10}{4 \cdot 13}$

Step 4.1.2.2.2

Cancel the common factor.

$i = 123.07 \cdot \frac{4 \cdot 10}{4 \cdot 13}$

Step 4.1.2.2.3

Rewrite the expression.

$i = 123.07 \cdot \frac{10}{13}$

Step 4.1.3

Multiply $123.07 (\frac{10}{13})$ .

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Step 4.1.3.1

Combine $123.07$ and $\frac{10}{13}$ .

$i = \frac{123.07 \cdot 10}{13}$

Step 4.1.3.2

Multiply $123.07$ by $10$ .

$i = \frac{1230.7}{13}$

Step 4.1.4

Divide $1230.7$ by $13$ .

$i = 94.6\overline{692307}$