Problem

QUESTION 4
Find the simple interest. Round your answer to the nearest cent.
Principal $= $ 100$
Interest Rate $= 4 %$
Time in years $= 1$
$$ 400.00$
$$ 25.00$
$$ 0.40$
$$ 4.00$

Answer

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Answer

$I = $ 4.00$

Steps

Step 1 ： $I = P \times R \times T$

Step 2 ： $I = 100 \times 0.04 \times 1$

Step 3 ： $I = $ 4.00$

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