$$\begin{array}{l}
\text { Find the missing value. }\
\begin{array} { c | c | c | c }
\text { Principal } & \text { Rate } & \text { Time } & \text { Simple Interest } \
\hline \$ 14,800 & 14 \% & 18 \text { months } &
\end{array}
\end{array}$$
A) $37,296.00
B) $31,080.00
C) $372,960.00
D) $3108.00

Question

$$\begin{array}{l}
\text { Find the missing value. }\
\begin{array} { c | c | c | c } 
\text { Principal } & \text { Rate } & \text { Time } & \text { Simple Interest } \
\hline \$ 14,800 & 14 \% & 18 \text { months } &
\end{array}
\end{array}$$
A) $37,296.00
B) $31,080.00
C) $372,960.00
D) $3108.00

Quizplus · Accepted Answer

The formula for simple interest is $ I = P \times R \times T $. Here, $ P = 14800 $, $ R = 14\% = 0.14 $, and $ T = \frac{18}{12} = 1.5 $ years. Calculating gives $ I = 14800 \times 0.14 \times 1.5 = 3108 $.