select the correct answer. calculate the simple interest. round to the nearest cent for, p = $2000, r = 6% t…

select the correct answer. calculate the simple interest. round to the nearest cent for, p = $2000, r = 6% t = 1yr.\n(a) $120.00\n(b) $130.00\n(c) $140.00\n(d) $150.00

select the correct answer. calculate the simple interest. round to the nearest cent for, p = $2000, r = 6% t = 1yr.\n(a) $120.00\n(b) $130.00\n(c) $140.00\n(d) $150.00

Answer

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the interest rate to decimal

Given $r = 6%$, convert it to decimal: $r=0.06$.

Step3: Substitute values into the formula

Substitute $P = 2000$, $r = 0.06$, and $t = 1$ into $I = Prt$. So, $I=2000\times0.06\times1$.

Step4: Calculate the interest

$I = 120$.

Answer:

A. $120.00$