Question

YOU BE THE TEACHER Your friend finds the simple interest earned on $500 at 6% for 18 months. Is your friend correct?
1 = (500)(0.06)(18)
= $540
o yes
no
Explain your reasoning,


plz help and plz add reasoning thankssss

Answer 1

Finding simple interest rate:

I = PRT    

I= interest

P= principal amount

R= rate

T= time

Equation:

I = PRT

I = (500)(0.06)(18)

I= 540

yes

Final Statements:

Therefore the interest rate is $540 after 18 months (answer is yes)

Reasoning: In this question it asked to determine whether the answer our friend provided was wrong or right using the information presented. In order to prove that they were correct I took the equation and checked it again myself and also looked for any errors that might of been there. Everything checked out including the rate which is where things are usually messed up considering it's a percentage.