Question

A

Simple interest on $2,900 at 7 percent for 60 days
(using ordinary interest) is:
C
.
=
O $33.83
O $38.33
OLCU
$33.73
O none of the above​

Answer 1

33.37

Explanation:

Given:

Principle amount, p=2900

Interest, i=0.07

time,t=60 days

= 60/365

Simple interest= P*i*t

= 2900*0.07*(60/365)

=33.37 !