# Write an algebraic equation for the following problem and then solve it.Bet

Write an algebraic equation for the following problem and then solve it.
Beth and Mark borrowed $4000 at a simple interest rate of $$\displaystyle{5}\%$$ for a period of 3 years. What was the interest? Write an equation for the interest I earned. $$I=?$$ (Do not simplify. Use integers or decimals for any numbers in the expression.) The interest is$___.

• Questions are typically answered in as fast as 30 minutes

### Plainmath recommends

• Get a detailed answer even on the hardest topics.
• Ask an expert for a step-by-step guidance to learn to do it yourself.

Ayesha Gomez
Step 1
The equation for the interest earned is
$$\displaystyle{I}={P}\cdot{r}\cdot{t}$$
where I: Interest
P: Principal
r: Rate of interest
t: Time in years
Step 2
Substitute the given alues in the above expression to find the interest earned.
$$\displaystyle{P}=\{4000}$$
$$\displaystyle{r}={5}\%$$
$$\displaystyle{t}={3}$$ years
$$\displaystyle{I}={P}\cdot{r}\cdot{t}$$
$$\displaystyle={4000}\times{\frac{{{5}}}{{{100}}}}\times{3}$$
$$\displaystyle={600}$$
Step 3
The algebraic expression that gives the interest, $$\displaystyle{I}={P}{r}{t}$$.
The interest obtained after 3 years $$\displaystyle=\{600}$$.