Marlena save $50 in an account earning 3.5% simple interest. How much would her account earn in 10 years?
1 answer:
Answer: Her account would earn $17.5
Step-by-step explanation: The earning on a given amount with simple interest can be computed as follows;
Interest = PRT/100
Where P is the principal (initial amount), R is the rate of interest and T is the number of years. The formula now becomes,
Interest = (50 x 3.5 x 10)/100
Interest = 1750/100
Interest = 17.5
Therefore, in 10 years her account would have earned $17.5
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