Find the Simple Interest $$\mathrm { p } = \$ 500 , \mathrm { r } = 8 \% , \mathrm { t } = 2 \text { years }$$

question 45

Multiple Choice

Find the simple interest. (The rate is an annual rate unless otherwise noted. Assume 360 days in a year.)
- $$\mathrm { p } = \$ 500 , \mathrm { r } = 8 \% , \mathrm { t } = 2 \text { years }$$

• A) $8.00
• B) $2000.00
• C) $31.25
• D) $80.00

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Definitions:

Superior Craftsmanship

The exceptional skill and quality applied in the creation or production of goods, often resulting in products of high durability and aesthetic value.

Less Elastic

Describes a demand or supply that shows a relatively smaller response to changes in price compared to others, usually implying a steeper demand/supply curve.

Superior Craftsmanship

refers to the high level of skill and quality in creating or repairing things, especially when the work is done with care and precision.

More Elastic

Describes a situation where the demand for a product or service is highly sensitive to changes in price or other factors, leading to significant variations in demand.