Question

Please help! Correct Answers only!

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Round your answer to the nearest cent.

Answer 1

Using the given formula:

I = P × R ×T

I = 40000 × 15/100 × 2

I = $12000