Question

The amount of interest is determined by multiplying the amount in savings by the: . A. annual interest rate. . . B. annual interest rate and the time period. . . C. time period. . . D. time period and number of months .

Answer 1

The amount of interest is determined by multiplying the amount of savings by the annual interest rate and the time period. The correct answer is B.

Answer 2

Answer:

Letter B. Annual interest rate and period.

Explanation:

In the simple interest system, interest accruals are accounted for each period to the initial capital. Thus, to determine the amount of interest paid it is necessary to multiply the amount of savings, the interest rate and the period, which can be annual, monthly etc. The formula for the calculation is: J = C x i x t, where C is the capital, ie the savings, i the period interest rate and t the time period.time period.