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klasskru [66]
3 years ago
11

Martha invested a principal amount of $15,000 into a savings account that earns simple interest at a rate of 4.5% per year. How

much money will she earn in interest over 6 years?
A.

$4,050

B.

$1,500

C.

$3,845

D.
4,500
Mathematics
1 answer:
lidiya [134]3 years ago
6 0

Option A

The simple interest earned over 6 years is $ 4050

<em><u>Solution:</u></em>

Martha invested a principal amount of $15,000 into a savings account that earns simple interest at a rate of 4.5% per year

<em><u>The formula for simple interest is given as:</u></em>

Simple\ Interest = \frac{p \times n \times r}{100}

Where, "p" is the principal and "n" is the number of years and "r" is the rate of interest

From given,

p = 15000

r = 4.5 %

n = 6 years

<em><u>Substituting the values we get,</u></em>

Simple\ Interest = \frac{15000 \times 4.5 \times 6}{100}\\\\Simple\ Interest = 150 \times 4.5 \times 6\\\\Simple\ Interest = 4050

Thus simple interest earned over 6 years is $ 4050

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