Question

Bob has $600 in a savings account that earns' 5% annually. The interest is not compounded

Answer 1

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \ 600\\ r=rate\to 5\%\to \frac{5}{100}\dotfill &0.05\\ t=years\dotfill &1 \end{cases} \\\\\\ I = (600)(0.05)(1)\implies I=30$

Answer 2

Answer:

30

Step-by-step explanation:

You would frist start by mutiplying 600 you principal by .05 your rate which equals 30. The you would multiply that by you time which is 1.