Monty invested $8600 in a savings account with a yearly interest rate of 5% for 12 years. How much simple interest did he earn?
2 answers:
SI=P*R*T
=8600*0.05*12
=5160
hope this helps!!
5% of 8600 is 430 so he makes $430 every year
he makes $5,160 in 12 years
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