SOLUTION: Compute the interest. Round to the nearest cent. Prinipal = $240 Rate = 12% per year Time = 2 Year Interest = _____

Algebra ->  Algebra  -> Finance -> SOLUTION: Compute the interest. Round to the nearest cent. Prinipal = $240 Rate = 12% per year Time = 2 Year Interest = _____      Log On

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Question 202182: Compute the interest. Round to the nearest cent.
Prinipal = $240
Rate = 12% per year
Time = 2 Year
Interest = _____
Answer by rfer(10417) About Me  (Show Source):
You can put this solution on YOUR website!
i=2P(.12)
i=(2)(240)(.12)
i=$57.60