Question

Find the interest on $ 2,700 invested at 4 % for 2 years.

Answer 1

`\$216`

1) We can use the following formula to find the Interest:

`I=Prt`

2) So, we can plug into the formula the given data:

`\begin{gathered} I=2700\cdot0.04\cdot2 \\ I=2700\cdot(4)/(100)\cdot2 \\ I=216 \end{gathered}`

So, the total interest in those 2 years is $216