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2 years ago

Manny has $650 in his savings

Mathematics

2 answers:

Bumek [7]2 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]2 years ago

4 0

Answer:

He has earned $52

Step-by-step explanation:

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

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