Finite Math Examples

$p = 450$ , $r = 0.09$ , $t = \frac{1}{4}$

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.

$i = (450) \cdot (0.09) \cdot (\frac{1}{4})$

Step 4

Simplify the right side.

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Step 4.1

Simplify $(450) \cdot (0.09) \cdot (\frac{1}{4})$ .

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Step 4.1.1

Multiply $450$ by $0.09$ .

$i = 40.5 \cdot \frac{1}{4}$

Step 4.1.2

Combine $40.5$ and $\frac{1}{4}$ .

$i = \frac{40.5}{4}$

Step 4.1.3

Divide $40.5$ by $4$ .

$i = 10.125$