Determine the simple interest earned p=$2000 r=4.6% T=4 years
1 answer:
Answer:
Step-by-step explanation:
Use a simple interest formula.
<u>Simple interest formula:</u>
<h3>
⇒ I=Prt</h3>
- P stands for principal
- R stands for interest rate
- T stands for interest time
- (P): Principal =$2000
- (R): Interest Rate =4.6%
- (T): Interest Time =4
→ 2000*4.6%4
<u>You have to convert 4.6% into a decimal form.</u>
→ 4.6%=0.046
→ I=2000*0.046*4
<u>Solve.</u>
<u>Multiply the numbers from left to right.</u>
→ 2000*0.046*4=368
- <u>Therefore, the correct answer is 368.</u>
I hope this helps you! Let me know if my answer is wrong or not.
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