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Find the interest. Round to the nearest cent. $500 at 4% for 2 years A. $40.00 B. $1,000.00 C. $4.00 D. $62.50

Find the interest. Round to the nearest cent. $500 at 4% for 2 years A. $40.00 B. $1,000.00 C. $4.00 D. $62.50
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1 vote
Find the interest. Round to the nearest cent.

$500 at 4% for 2 years
A. $40.00
B. $1,000.00
C. $4.00
D. $62.50

asked
User Bronzato
by
7.7k points

1 Answer

5 votes

Answer:

I = $500(.04)(2) = $40

The correct answer is A.

answered
User Mtraut
by
8.3k points
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