Question

If you invest $550.00 at a 4% interest rate, what will be the interest

Answer 1

The interest is £22 because 1% of £550 is £5.50 and so times that by 4 and you get £22

Answer 2

ANSWER: $22 DOLLARS

Explanation:

• First, look at the amount of money. It's $550 so write that down on a piece of paper or something like that.

• The interest rate is 4%, so you have to times 1% 4 times to get the answer. Write it down.

First, let's find 1% of 550.

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HOW TO FIND 1% OF 550:

• Try to find the decimal point of 550. Since it's a full number, it'll be at the back. It looks like this:

550.00

(see the point?)

• Since behind the point there are 2 0's, round it back 2 times.
• It looks like this:

5.50

(see it?)

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Now, let's multiply the "new" number amount we have. ($5.50)

5.50

x 4

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22

(yeah, I don't think I need to explain this but I did lol)

YAY!

You got the answer! Congrats!

-eliana44ever