jasminezarco14 jasminezarco14
  • 14-12-2017
  • Mathematics
contestada

Valentina invested $6500 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

Respuesta :

loudermilkblair
loudermilkblair loudermilkblair
  • 14-12-2017
The formula for simple interest is
I = prt
I = (6500)(.04)(7)
So, after multiplying these number we get the answer of 
I = $1820
Answer Link
eudora eudora
  • 14-05-2019

Answer:

Interest would be $1,820

Step-by-step explanation:

Valentina invested in a savings account = $6,500

Yearly interest rate = 4% or 0.04

Time = 7 years

To solve simple interest we use formula :

I = prt

I = Interest

P = Principal amount

r = rate of interest

t = time

I = (6500)(0.04)(7) = $1,820

Valentina earned $1,820 simple interest.

Answer Link

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