3 years ago

If $200 is put in the bank and each year the account earns 5% simple interest, then how much interest will be earned in two year

1 answer:

6 0

$\bf ~~~~~~ \textit{Simple Interest Earned}\\\\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\\
P=\textit{original amount deposited}\to& \$200\\
r=rate\to 5\%\to \frac{5}{100}\to &0.05\\
t=years\to &2
\end{cases}
\\\\\\
I=200(0.05)(2)$

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