Simple Interest FormulasThe interest of a simple interest investment or loan can be computed with the formulaI = Prt.The end amount of a simple interest investment or loan can be computed with the formulaA = P(1 + rt).Use these formulas to evaluate the amounts indicated below.Let P = $5, 100, r = 8.2%, and t = 3 years. Determine the interest, I, at the end of 3 years for a simple interestloan.Interest = $dollarsLet P = $3,500, T = 6.7%, and t = 9 years. Determine the total end amount, A, at the end of 9 years for asimple interest loan.т-End Amount = $dollarsQuestion Help: D VideoWritten Example D Post to forumSubmit Question