Finite Math Examples

$p = 8000$ , $r = 6 %$ , $t = 4$

Simple interest is calculated on the original principal only. Accumulated interest from prior periods is not used in calculations for the following periods.

$i = p \cdot r \cdot t$

Simplify $p \cdot r \cdot t$ .

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Multiply $p$ by $r$ .

$i = p r \cdot t$

Multiply $p r$ by $t$ .

$i = p r t$

Substitute the known values into the formula.

$i = (8000) \cdot (6 %) \cdot (4)$

Simplify $(8000) \cdot (6 %) \cdot (4)$ .

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Convert $6 %$ to a decimal.

$i = 8000 \cdot 0.06 \cdot 4$

Multiply $8000$ by $0.06$ .

$i = 480 \cdot 4$

Multiply $480$ by $4$ .

$i = 1920$

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