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Li invests money in a savings account. She wants to know the amount of simple interest that she will earn in 6 years at 3.75 percent. What additional information does she need to find this amount?
principal
amount of time
interest rate
the type of account

Respuesta :

jcorsbie1
Principal

She needs to know how much money she's putting in to be able to calculate interest.

Answer:

Principal

Step-by-step explanation:

Since, the amount in the simple interest is,

[tex]A=P+\frac{P\times r\times t}{100}[/tex]

Where, P is the principal amount,

r is the annual rate,

t is the time ( in years ),

Here, r = 3.75 %, t = 6 years,

Thus, By the above explanation,

It is clear that, we need the value of P, that is, principal to find the amount.