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HELP



I = Prt is the formula for simple interest. The principal is $4,840, the interest rate is 6%, and the time is two years. What is the interest charge?
A. $58.08
B. $580.80
C. $620.19
D. $5,808.00

Respuesta :

So I = Prt 

I for interest charge 
P for principal ($4,840)  
r for rate (6%)
t for time (2 yrs) 

So you would then plug the information into the equation.....

I = 4,840*.06*2 
I = 580.80 

So the answer to your question is $580.80 which is option B

Hope this helps! :) 

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