Question

P = $730, r = 6%, t = 7 What is i? $30.66 $306.60 $3,066.00 $30,660.00

Answer 1

Answer: Choice B) $306.60

Work Shown:

i = P*r*t ..... simple interest formula

i = 730*0.06*7 ... plug in given values

i = 306.60

note how I used r = 0.06, which is the decimal form of 6%