The simple interest formula is l=prt where l represents simple interest on an amount p for t years at a rate of r where r is expressed as a decimal. what is the amount of money p that will generate $40 in interest at a 10% interest rate over 5 years

First solve for p.

Then insert the data.

Hope this helps.

r3t40

$80

Step-by-step explanation:

Given : Interest amount :

The rate of interest :

Time period : years

The simple interest formula is

, where l represents simple interest on an amount p for t years at a rate of r where r is expressed as a decimal.

Substitute all the values in the  formula , we get

Hence, the amount of money p that will generate $40 in interest at a 10% interest rate over 5 years= $80