Respuesta :

xcartoonlensstudiosx

Answer:

I = $ 11.00

Equation:

I = Prt

Calculation:

First, converting R percent to r a decimal

r = R/100 = 11%/100 = 0.11 per year,

then, solving our equation

I = 100 × 0.11 × 1 = 11

I = $ 11.00

The simple interest accumulated

on a principal of $ 100.00

at a rate of 11% per year

for 1 years is $ 11.00.

Wallameg000

Answer:

$22

Step-by-step explanation:

Using the initial loan amount, interest rate, and term we can find the amount of simple interest paid.

Simple Interest

First, let's define simple interest. Simple interest is the simplest to calculate.  Simple interest is calculated based on the initial loan, aka the principle (P). Compound interest, on the other hand, is calculated based on the principle and any accumulated interest.

Solving for Interest

We are given every value we need, so we can just plug them into the given formula. The principle is the initial $100 loan, so P = 100. The interest rate is 11%, but for the formula, we should use this in decimal form. This way r = 0.11. Then, we are told the total time is 2 years, so t = 2.

  • I = 100 * 0.11 * 2
  • I = 22

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