Property If an amount of money, $P$, the principal, is invested for a period of $t$ years at an annual interest rate $r$, the amount of interest, $I$, earned is $$I = Prt$$ where $I$ = interest $P$ = principal $r$ = rate $t$ = time.
Section 1
Use the simple interest formula
If an amount of money, , the principal, is invested for a period of years at an annual interest rate , the amount of interest, , earned is
where
Interest earned according to this formula is called simple interest.
Section 2
Commission
A commission is a percentage of total sales as determined by the rate of commission.
Book overview
Jump across lessons in the current chapter without opening the full course modal.
Continue this chapter
Expand to review the lesson summary and core properties.
Section 1
Use the simple interest formula
If an amount of money, , the principal, is invested for a period of years at an annual interest rate , the amount of interest, , earned is
where
Interest earned according to this formula is called simple interest.
Section 2
Commission
A commission is a percentage of total sales as determined by the rate of commission.
Book overview
Jump across lessons in the current chapter without opening the full course modal.
Continue this chapter