Question

640,3%,2 year simple interest earned to the nearest cent for each principal interest rate and time

Answer 1

Simple interest = $38.4

Solutions
Simple interest, I = principal x rate x time
Principal = $640
Time = 2 years
Rate = 3% = 3/100 = 0.03
Remember, always divide your rate in percent by 100.
Don't forget to read the question and approximate correctly.