Answer:
The amount of interest is $252. The equations [tex]i=p\times r\times t[/tex] or [tex]i=1400\times 0.06\times 3[/tex] represent the relation relationship between p, (r), (t) and (i).
Step-by-step explanation:
The formula of simple interest is
[tex]i=p\times r\times t[/tex]
Where, principal amount (p), rate of interest (r), period of investment in years (t), and interest earned (i).
The principal amount is $1,400, interest rate of 6% and the time period of 3 years.
The amount of interest is
[tex]i=1400\times 0.06\times 3[/tex]
[tex]i=252[/tex]
Therefore the amount of interest is $252.
The equations [tex]i=p\times r\times t[/tex] or [tex]i=1400\times 0.06\times 3[/tex] represent the relation relationship between p, (r), (t) and (i).
