Question

P = $300

r = 7%
t = 2

What is i?

A) $4.20
B) $42.00
C) $420.00

Answer 1

I=
`(PRT)/(100)`
i=
`(300*7*2)/(100)`
i=
`42.00 dollars`

Answer 2

To answer the question, I assume that the investment has a simple interest. The interest is calculated by the equation,
i = P x r x t
Substitute the given values,
i = ($300) x 0.07 x 2
The value of i is $42. Thus, the answer is letter B. $42.00.