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
Giải thích
Đáp án C
(2) “Interest = Principal X Rate X Time”
Interest = $1 x 4% x 1 = $ 0.04 = 4 cents