If money is invested for a short period of time, simple interest is paid using the following formula.
I = Prt

P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, the money is invested.

Given P = $2,500, r = 3%, and t = 6 years, how much interest is paid?

Using pert, adam munson was able to determine that the expected project completion time for the construction of a pleasure yacht is 21 months, and the project variance is 4. a) what is the probability that the project will be completed in 17 months? b) what is the probability that the project will be completed in 20 months? c) what is the probability that the project will be completed in 23 months? d) what is the probability that the project will be completed in 25 months? e) what is the due date that yields a 95% chance of completion?