A fee paid for the use of money:

The amount of time for i=prt must be in what unit?

Find the interest due after six months for a $1,000 deposit at a 4% rate of interest paid semianually.

What is the current balance if the account had $3,000 to start with and $400 is deposited.

In the formulas the B and the P both stand for the same value, the principal.

Find the simple interest if $12,600 is borrowed for 4.5 years at 7% interest.