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

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


   

Question 202182: Compute the interest. Round to the nearest cent.
Prinipal = $240
Rate = 12% per year
Time = 2 Year
Interest = _____
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
i=2P(.12)
i=(2)(240)(.12)
i=$57.60