Certainly! Let's go step-by-step to find the missing values [tex]\( A \)[/tex] (Simple Interest) and [tex]\( B \)[/tex] (Total Amount Owned).
1. Identify the given values:
- Principal ([tex]\( P \)[/tex]) = [tex]$16,000
- Interest Rate (\( R \)) = 8%
- Time (\( T \)) = 3 months
2. Convert the interest rate and time to appropriate units:
- The interest rate is already given as a percentage, so we convert it to a decimal: \( R = 0.08 \)
- The time period needs to be in years. Since 3 months is \(\frac{3}{12}\) of a year, we get: \( T = 0.25 \) years
3. Calculate the Simple Interest using the formula \( I = PRT \):
\[
I = 16,000 \times 0.08 \times 0.25
\]
\[
I = 16,000 \times 0.02
\]
\[
I = 320.0
\]
Therefore, the Simple Interest (\( A \)) is \$[/tex]320.0.
4. Calculate the Total Amount Owned:
[tex]\[
\text{Total Amount Owned} = \text{Principal} + \text{Simple Interest}
\][/tex]
[tex]\[
\text{Total Amount Owned} = 16,000 + 320.0
\][/tex]
[tex]\[
\text{Total Amount Owned} = 16,320.0
\][/tex]
Therefore, the Total Amount Owned ([tex]\( B \)[/tex]) is \$16,320.0.
So, the completed table will be as follows:
[tex]\[
\begin{tabular}{|c|c|c|c|c|}
\hline
Principal & Interest Rate & Time & Simple Interest & Total Amount Owned \\
\hline
16,000 & 8\% & 3 months & 320.0 & 16,320.0 \\
\hline
\end{tabular}
\][/tex]
