Answer:
B. $1680
Step-by-step explanation:
Note the simple interest formula:
Interest = (Principal)(rate)(time)
Principal = $6000
Rate = 7% = 0.07
Time = 4
Plug in the corresponding numbers for the corresponding variables.
I = (P)(R)(T)
I = (6000)(0.07)(4)
Multiply.
I = (24000)(0.07)
I = 1680
Interest is $1680.
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