Amy deposits \$500 into an account that pays simple interest at a rate of 5% per year . How much interest will she be paid in th e first 2 years?
2 answers:
Answer:
$50
Step-by-step explanation:
pnr/100
500×5×2/100
$50
Answer:
$50
Step-by-step explanation:
The formula for simple interest is: A=Prt/100
P=500
r=5
t=2
So, once you input the values it will be: A=500 x 5 x 2/100
And thus your answer will be $50
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