Question

You invest x dollars at 5-percent annual rate for 2 year. how much is the simple interest?

Answer 1

The simple interest on x dollars at 5-percent annual rate for 2 year is $0.1x

Calculating simple interest

The formula for calculating the simple interest is expressed as:

SI = PRT

where

P is the principal = $x

R is the rate = 5%= 0.05

Time T = 2 years

Substitute

SI = x * 0.05 * 2

SI. = 0.1x

Hence the simple interest on x dollars at 5-percent annual rate for 2 year is $0.1x

Learn more on simple interest here: brainly.com/question/25793394

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