Find the interest. Round to the nearest cent.
-$\$ 600$ at $6.3 \%$ for 2 months
A) Interest $=\$ 630.00$
B) Interest $=\$ 75.60$
C) Interest $=\$ 18.90$
D) Interest $=\$ 6.30$

Question

Quizplus · Accepted Answer

The interest can be calculated using the formula for simple interest: $ I = P \times r \times t $. Here, $ P = 600 $, $ r = 0.063 $ (annual rate), and $ t = \frac{2}{12} $ (time in years). So, $ I = 600 \times 0.063 \times \frac{2}{12} = 6.30 $.

Find the Interest $600\$ 600$600 At 6.3%6.3 \%6.3% For 2 Months A) Interest

Find the Interest $\$ 600$ At $6.3 \%$ For 2 Months
A) Interest