Solve. Round all dollar amounts to the nearest cent, if necessary.
-Find the simple interest earned on $9000 saved foraved for $5 \frac { 1 } { 2 }$ years at an interest rate of 7%.

Question

Quizplus · Accepted Answer

The simple interest can be calculated using the formula $I = P \times r \times t$, where $I$ is the interest, $P$ is the principal amount ($9000), $r$ is the annual interest rate (7% or 0.07), and $t$ is the time in years ($5 \frac{1}{2}$ or 5.5 years). Plugging in the values: $I = 9000 \times 0.07 \times 5.5 = 3465$.

Solve Round All Dollar Amounts to the Nearest Cent, If 5125 \frac { 1 } { 2 }521​

Solve Round All Dollar Amounts to the Nearest Cent, If $5 \frac { 1 } { 2 }$