Find the simple interest. Round your answer to the nearest cent.

Question

Principal = $900
Rate = 4%
Time in years = 3

Is this correct: 900*0.04=36
36*3=108.00

Then my next question is when you round to the nearest unit is it the same as regular rounding. 335.42 rounded to the nearest unit would be 335 or 3350? Im confused?

Answer 1

Your first answer is correct. The interest is $108.

Your second answer is 335.

Think of money. $335.42 is just a little more than 335 dollars.

Answer 2

bozo