Solve the Problem

question 101

Multiple Choice

Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent
unless otherwise indicated.
-Andy Jones opened a security service company. To pay for startup costs, Andy Jones borrowed $40,000 from a bank at 5% for 1 year. Find the interest.

• A)$2000.00
• B)$42,000.00
• C)$2400.00
• D)$200.00

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Definitions:

Emergency

A situation that arises unexpectedly and requires immediate action to prevent or minimize potential harm or disaster.

Religiosity

The degree of a person's religious beliefs, involvement, practices, and devotion.

Altruism

Selfless concern for the well-being of others.

Strangers

Individuals who are not known personally or familiar to someone.