if you wish to calculate the interest on an investment with a rate of 6.17%, what number will you plug into…

if you wish to calculate the interest on an investment with a rate of 6.17%, what number will you plug into your equation?\na. 0.00617\nb. 0.0617\nc. 0.617\nd. 6.17

if you wish to calculate the interest on an investment with a rate of 6.17%, what number will you plug into your equation?\na. 0.00617\nb. 0.0617\nc. 0.617\nd. 6.17

Answer

Explanation:

Step1: Convert percentage to decimal

To convert a percentage to a decimal, divide by 100. So for 6.17%, we calculate $6.17\div100$. $6.17\div100 = 0.0617$

Answer:

B. 0.0617