Finite Math Examples

$p = 820$ , $r = 8 %$ , $t = 4 \frac{1}{2}$

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

There isn't enough given information to complete the problem.

Not enough information.