At 4 percent interest for the use of $1 principal, how much would one pay? (A) Six cents per year (B) Twenty-five cents per year (C) Four cents per year (D) One cent per year

At 4 percent interest for the use of $1 principal, how much would one pay?

(A) Six cents per year
(B) Twenty-five cents per year
(C) Four cents per year  
(D) One cent per year

Trả lời

Đáp án C

(2) “Interest = Principal X Rate X Time”

Interest = $1 x 4% x 1 = $ 0.04 = 4 cents

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