Use I = Prt for Simple Interest to Find the Indicated

question 34

Multiple Choice

Use I = Prt for simple interest to find the indicated quantity.
-P = $3000; t = 90 days; I = $105. Find r. (Use 360 days in a year.)

• A) 3.5%
• B) 14.2%
• C) 9.7%
• D) 14.0%

---

Definitions:

EU Data Protection

Regulations and laws within the European Union designed to protect individuals’ personal data and privacy.

Safe Harbor Principles

Principles of electronically stored information (ESI) protection established by the Department of Commerce that, if followed by American companies, will qualify them for commerce with the EU.

Accord and Satisfaction

A legal agreement where disputing parties agree on a payment that is less than what is owed, and the payment is accepted as full settlement of the debt.

Discharged in Bankruptcy

The release of a debtor from personal liability for certain specified types of debts, declaring the debtor is no longer legally required to pay any debts that are discharged.