Answer:
1. $60
2. $240
Step-by-step explanation:
Use the formula for simple interest. Put your numbers in the formula and do the arithmetic.
i = Prt . . . . where i is the interest amount, P is the principal, r is the rate, t is the time period
1. P = $600, r = 0.05, t = 2, so you have ...
i = $600·0.05·2 = $60
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2. P = $1500, r = 0.04, t = 4, so you have ...
i = $1500·0.04·4 = $240
