Select the function that represents the simple interest formula.A.A(n) = P + (n – 1)i • P, where n is a positive integerB.A(n) = P + (n – 1)i • P, where n is any real numberC.A(n) = P(1 + i)n – 1, where n is a positive integerD.A(n) = P(1 + i)n – 1, where n is any real numberSUBMITarrow_backPREVIOUS
Question
Select the function that represents the simple interest formula.A.A(n) = P + (n – 1)i • P, where n is a positive integerB.A(n) = P + (n – 1)i • P, where n is any real numberC.A(n) = P(1 + i)n – 1, where n is a positive integerD.A(n) = P(1 + i)n – 1, where n is any real numberSUBMITarrow_backPREVIOUS
Solution
None of the options provided represent the simple interest formula. The simple interest formula is usually represented as I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time.
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