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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