Question

Principal = $2,400
Rate = 4%
Time = 30 months

Answer 1

$240

Explanation:

I = prt

I = (2,400) (0.04) (2.5)

note: I changed 4% to a decimal and 30 months to 2.5 years

I = 96 (2.5)

I = 240 <-- The interest

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The simple interest accumulated on a principal of $ 2,400.00 at a rate of 4% per year for 2.5 years (30 months) is $240.00.

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* Last time I did interest was in 6th grade and I don't remember much. So I am very sorry if my answer is wrong *