SOLUTION: Find the simple interest on a $2,159.00 principal, deposited for 6 years at a rate of 3.9%.
Round to the nearest cent.
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Round to the nearest cent.
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Question 1209557: Find the simple interest on a $2,159.00 principal, deposited for 6 years at a rate of 3.9%.
Round to the nearest cent. Answer by CPhill(1959) (Show Source):
You can put this solution on YOUR website! Here's how to calculate the simple interest:
* **Principal:** $2,159.00
* **Rate:** 3.9% = 0.039 (in decimal form)
* **Time:** 6 years
Simple Interest = Principal * Rate * Time
Simple Interest = $2,159.00 * 0.039 * 6
Simple Interest = $505.206
Rounding to the nearest cent, the simple interest is $505.21.
