how does one arrive at the following answerof simple interest? P= 2400/(0.08*3) p= 10,000

Question

Simple interest

 

I have to find P

r=8*+0.08

t=3 years

I=2400

(This is the part I need help with. I don't understand the second to last calculation.)

2400=P*0.08*3

Here it comes: P=2400/(0.08*3) how does this =$10,000

P=$10,000

Thank you so much!

Answer 1

0.08 x 3 = .24

2400/.24 = 10,000 did that answer your question?

Answer 2

write this equation in simple form for dummies F = (1 + i)n × P = (1 + 0.0275)120 × 20,000 =  25.93102392 × 20,000 = 518,620.48 I do not know how to calculate this, I need to see how they come with the anwser in long form