Answer:
No
Step-by-step explanation:
You want to calculate the interest on $550 at 2.1% interest per year after 4 years.
The formula we'll use for this is the simple interest formula, or:
I = P x r x t
P is the principal amount, $550.00.
r is the interest rate, 2.1% per year, or in decimal form, 2.1/100=0.021.
t is the time involved, 4 years.
So, t is 4 year time periods.
To find the simple interest, we multiply 550 × 0.021 × 4 to get that:
The interest is: $46.20
The answer is C, as it is rounded to 2 decimal places / 3 significant figures, which is more than the others.
Answer:
what
Step-by-step explanation:
