Question

What is the simple interest paid to the nearest cent for each principal, interest rate, and time?

Principal: $2,500, Interest Rate: 4.5%, Time: 2 years

Answer 1

Answer:55

Step-by-step explanation: add 1478+22

Answer 2

The simple interest paid to the nearest cent for a principal of $2,500, an interest rate of 4.5%, and a time of 2 years is $225.

Step-by-step explanation:

The simple interest formula is I = P * R * T, where I is the interest, P is the principal, R is the interest rate, and T is the time. Given the values of P = $2,500, R = 4.5%, and T = 2 years, we can substitute them into the formula:

I = $2,500 * 0.045 * 2 = $225

Therefore, the simple interest paid to the nearest cent is $225.