Urgent!!!!!!!!!!!!!!!?

Question

How do u do this?

Find the interest on each of the following sums.

1-$500 at 2% for 1 year

2-$225 at 4% for 1 year

3-$650 at 4 % for 2 year

Explain, thanks!

Answer 1

Using the equation explained in the source box below:

PRT = I

1)  (500)(.02)(1) = $10

(500) dollars is your principle

2% = 2/100 = (.02) is your rate of interest per year

with (1) year of repayment

2)  (225)(.04)(1) = $ 9

(225) dollars is your principle

4% = 4/100 = (.04) is your rate of interest per year

with (1) year of repayment

3)  (650)(.04)(2) = I

           (26)     (2) = $52

(650) dollars is your principle

4% = 4/100 = (.04) is your rate of interest per year

with (2) years of repayment

Hint:  use this web calculator to check your work:

http://www.webmath.com/simpinterest.html