Question

$42 over 2 years at an interest rate of 3%

Answer 1

• P is the principal amount, $42.00.
• r is the interest rate, 3% per year, or in decimal form, 3/100=0.03.
• t is the time involved, 2....year(s) time periods.
• So, t is 2....year time periods.
To find the simple interest, we multiply 42 × 0.03 × 2 to get that:
The interest is: $2.52
Usually now, the interest is added onto the principal to figure some new amount after 2 year(s),
or 42.00 + 2.52 = 44.52. For example:
• If you borrowed the $42.00, you would now owe $44.52
• If you loaned someone $42.00, you would now be due $44.52
• If owned something, like a $42.00 bond, it would be worth $44.52 now.

Answer 2

It's either 400 500 600 or 700

Answer 3

The formula is:
present value = principal * (1 + rate) ^ years
present value = principal * (1.03) ^ 2
present value = 42 * 1.0609
present value = 44.5578
present value = $44.56
(A little higher than the previous answer.)

Answer 4

So what would be the answer 400 590 600 or 700 @wolf1738

Answer 5

$44.56

Answer 6

either mine or wolf1728 is correct it all depends on how u rounded your decimals

Answer 7

The answers are either 400 500 600 or 700 it's muni tole choice

Answer 8

Multiple choice

Answer 9

@wolf1728

Answer 10

its 700

Answer 11

Where does 700 come into the picture?

Answer 12

Match the information about interest earned with the principal amount invested . Remember the equation for calculating simple interest is I=prt.

Answer 13

princ = 42 int = .03 years = 2 total = 44.52 and something in that computes to 700?

Answer 14

So what would be the answer wolf?

Answer 15

I don't know. For one thing I didn't know it was a multiple choice question.
The question was
$42 over 2 years at an interest rate of 3%
and I just assumed it was to calculates the value after 2 years.