Problem
QUESTION 4 Find the simple interest. Round your answer to the nearest cent. Principal \( =\$ 100 \) Interest Rate \( =4 \% \) Time in years \( =1 \) \( \$ 400.00 \) \( \$ 25.00 \) \( \$ 0.40 \) \( \$ 4.00 \)
Solution
Step 1 ：\(I = P \times R \times T\)
Step 2 ：\(I = 100 \times 0.04 \times 1\)
Step 3 ：\(I = \$4.00\)
