Question

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

Answer 1

• 
  `\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.