Question

What is the simple interest on $450 at 7% for 2 years?

Answer 1

$220.50
That’s the answer

Answer 2

I = $220.50

Explanation:

Simple Interest Formula is I = prt

P= Principal $450

R= Rate 0.07

T= Time 7 years

I = (450)(0.07)(7)

I= $220.50