Question

Calculate the simple interest for each solution, which choices have a simple interest grater than 800.00? Multiple choice. A. $2,000.00 at 6% for 7 years. B. $4,500.00 at 3% for 6 years. C. $1,400.00 at 6% for 9 years. D. $800.00 at 15% for 5 years.​

Answer 1

The Choices A and B have a Interest amount greater than $800, where;

A's Interest = $840

B's Interest = $810

Explanation:

A. $2,000.00 at 6% for 7 years.

Interest = Principal x Time x Interest Rate

Interest = $2,000 x 7 x 0.06

Interest = $840

B. $4,500.00 at 3% for 6 years.

Interest = Principal x Time x Interest Rate

Interest = $4,500 x 6 x 0.03

Interest = $810

C. $1,400.00 at 6% for 9 years.

Interest = Principal x Time x Interest Rate

Interest = $1,400 x 9 x 0.06

Interest = $756

D. $800.00 at 15% for 5 years.​

Interest = Principal x Time x Interest Rate

Interest = $800 x 5 x 0.15

Interest = $600