Solve the Problem. -The Amount of Simple Interest I Generated by Principal P

question 180

Multiple Choice

Solve the problem.
-The amount of simple interest I generated by principal P, annual interest rate r, and time t in years is given by I = Prt. Find the interest if t = 7 years, P = $100, and r = 0.04.

• A)$28.00
• B)$1.12
• C)$0.70
• D)$112.00

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