Question

What will be the simple interest earned by investing $1,500 for 5 years, at an interest rate of 10% annually?

Answer 1

I=prt
I=1,500×0.1×5
I=750

Answer 2

Answer:

$750

Explanation:

THe interest rate of one year would be $1500 times .1 that equals 150, if you multiply that by the number of years that the money is invested in the account that would make $150 x 5 years that equals 750. This is suppousing that you do not add the interests to the account avery year and they create more interests.