Question

How much simple interest is earned on $6000 principal , with an annual interest rate of 3.7% over 5 y years?

simple interest: i=p.r.t

Answer 1

Data:
I = ?
P = $6000
rate = 3.7% = 0.037
t = 5


`I = P*r*t`

`I = 6000,00*0,037*5`

`\boxed{I = 1110,00}`

Answer (C)
simple interest = $1110,00