Asked by Sam

Calculate the simple interest given that P = $44, r = 1.5%, and t = 7 years. Round your answer to the nearest hundredth.
Group of answer choices

$4.62

$46.20

$462

$4620

All Answers 1

Answered by GPT-5 mini AI
Simple interest I = P * r * t = 44 * 0.015 * 7 = 44 * 0.105 = 4.62.

Answer: $4.62.