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valkas [14]
3 years ago
7

Lorraine invested $5,500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she ea

rn?
A. $330
B. $2,970
C. $297
D. $3,300
Mathematics
2 answers:
Scrat [10]3 years ago
7 0
The formula for simple interest is

F = P*(1 + n*i)

where F is the future worth of the money
P is the present worth
n is the numbe of years
i is the interest rate

substituting values, we get a future worth of $8470

The earnings is therefore $8470 - $5500 = $2970
Alexandra [31]3 years ago
3 0
Hey !

the answer is B) <span>$2,970  , because :

(5500*6\100) * 9  = 2970$</span>
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