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True [87]
3 years ago
15

Manny has $650 in his savings

Mathematics
2 answers:
Bumek [7]3 years ago
8 0

Answer:

Interest Manny earns after 2 years is  $52

Step-by-step explanation:

Amount deposited = $650

Simple annual interest rate = 4%

To find: Interest after 2 years

We know that the formula to calculate the interest amount is

Simple interest (S.I.) =  \frac{Prt}{100}

where,

P is the initial amount deposited

r is the rate of simple interest in percentage

t is the time in years for which interest is to be calculated

Substituting the known values in the formula, we get

S.I =  \frac{650 x 4 x 2}{100}

   = 52

Hence the interest Manny earns after 2 years is  $52

djyliett [7]3 years ago
4 0

Answer:

He has earned $52

Step-by-step explanation:

  1. $650 x (1+4.0% x 2 years) = $52
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