# Math Help - Interest

1. ## Interest

The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I = Prt. Find the simple interest on a principal of $6000 at 3% for 2 years. (Hint: 3% = 0.03) 2. Originally Posted by Patience The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I = Prt. Find the simple interest on a principal of$6000 at 3% for 2 years. (Hint: 3% = 0.03)
Well...

We have I = Prt given by you so that:

I = 6000(.03)(2)

I = \$360