If you wish to calculate the interest on an investment with a rate of 6.17%, what number will you plug into your equation?
Answer
A
0.00617
B
0.0617
C
0.617
D
6.17
Explanation
Convert the percent to a decimal by dividing by 100: 6.17% = 6.17 ÷ 100 = 0.0617. Use 0.0617 in the interest equation, so the correct choice is 0.0617.
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