simple interest

• February 26th 2009, 08:42 AM
diehardmath4
simple interest
P = 9125
R = 0.8% per month
T = ?
I = 511.00

got stuck when i was asked the Rate is 0.8% per month and the T wasn't given
• February 26th 2009, 09:01 AM
Hello Die Hard 4,
Quote:

Originally Posted by diehardmath4
P = 9125
R = 0.8% per month
T = ?
I = 511.00

got stuck when i was asked the Rate is 0.8% per month and the T wasn't given

when r is in % per month
$I = \frac{P\times t \times \frac{R}{12}}{100}$