aikomobolanle aikomobolanle

12-08-2021
Mathematics

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Find the simple interest. The rate is an annual rate unless otherwise noted. Assume 365 days in a year and 30 days per month Round to the nearest cent $600 at 3% for 1 year

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sqdancefan sqdancefan

13-08-2021

9514 1404 393

Answer:

$18

Step-by-step explanation:

The interest is computed using the formula ...

I = Prt

where P is the principal, r is the annual rate, and t is the number of years. The interest is ...

I = $600×0.03×1 = $18

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