alleryInterest found from I equals P times r times t is called:
ASimple interest
BCompound interest
CDiscount interest
DMark-up interest
Answer & Solution
Correct answer: A. Simple interest
1. Only the original principal earns.
2. That is simple interest.
3. Compound interest is covered later.
_Source: OpenStax Elementary Algebra 2e, Chapter 3, Solve Percent Applications (CC BY 4.0)._
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