Seudónimo Seudónimo

12-02-2021
Mathematics

contestada

What is the simple interest on $2500 invested at an interest rate of 6% for 2 years?

Respuesta :

coolguycal coolguycal

12-02-2021

Answer:

The simple interest is $300.

Step-by-step explanation:

Find the Interest amount.

I: Interest ?

P: Principle Amount $2500

R: Rate 6% = .06

T: Time Period (in years) 2 Years

Convert into equation to find Simple Interest

I = Prt

I = (2500)(.06)(2)

Calculate

I = 300

Answer Link

gracegp gracegp

14-02-2021

2500 x 0.06 x 2
= 300
The simplest interest is $300

Answer Link

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