QuestionThe interest of a simple interest investment or loan can be computed with the formula $$I=P r t .$$
The end amount of a simple interest investment or loan can be computed with the formula $$A=P(1+r t)$$
Use these formulas to evaluate the amounts indicated below.
Let $P=\$ 6,800, r=6.7 \%$, and $t=9$ years. Determine the interest, $I$, at the end of 9 years for a simple interest loan. $$\begin{array}{l} \text { Interest }=\$ \\ \text { dollars } \end{array}$$
Let $P=\$ 5,100, r=12.3 \%$, and $t=3$ years. Determine the total end amount, $A$, at the end of 3 years for a simple interest loan.
End Amount = \$$\square$ dollars