Question

1. You borrow $50 for 1 year at 5% interest rate. What is the interest owed?
The principal is
The rate is
The time in years is
T = prt
The interest owed is

Answer 1

Answer:

solution

Borrow = p =  $50

Time periods = t = 1 year

Rate = R = 5 %

interest = I =?

I = P*t*R

I= 50 x 1 x 5/100

I= 2.5

Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation:

I=PRT/100

I=$50×5×1 all divided by 100

I=250/100

I=5/2 or $2.50