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Determine the simple interest earned p=$2000 r=4.6% T=4 years

1 Answer

7 votes

Answer:


  • \boxed{\sf{I=368}}

Explanation:

Use a simple interest formula.

Simple interest formula:

⇒ I=Prt

  • P stands for principal
  • R stands for interest rate
  • T stands for interest time

  • (P): Principal =$2000
  • (R): Interest Rate =4.6%
  • (T): Interest Time =4

→ 2000*4.6%4

You have to convert 4.6% into a decimal form.

→ 4.6%=0.046

→ I=2000*0.046*4

Solve.

Multiply the numbers from left to right.

→ 2000*0.046*4=368

  • Therefore, the correct answer is 368.

I hope this helps you! Let me know if my answer is wrong or not.

User Stiffo
by
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