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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Definitions:

Cognitive Processes

Mental activities involved in acquiring, storing, retrieving, and using information, including perception, memory, thinking, and problem-solving.

Psychotherapy

A form of treatment for mental health issues that involves talking with a therapist to understand and overcome problems.

Functionalism

A theoretical perspective in sociology and anthropology that interprets society as a structure with interrelated parts designed to meet the biological and social needs of individuals that make up that society.

Evolutionary Theories

A set of principles that explains how biological organisms have changed over time due to processes such as natural selection and genetic drift.