Calculate simple interest earned on a deposit of $500 at a rate of 5% for 5 years.

Mathematics

2 answers:

Ilya [14]3 years ago

7 0

Answer:

A = $625.00

(I = A - P = $125.00)

Equation:

A = P(1 + rt)

Step-by-step explanation:

VikaD [51]3 years ago

3 0

Answer: $125

Step-by-step explanation: The formula for simply interest = P x R x T where P equals the principle, R equals the rate in decimal format and T equals time in the number of years.

Your formula for this problem is: $500 x .05 x 5 = $125. Therefore, you would earn $125 in interest over five years.

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