Question

What is the interest due on $250 at 11% for 2 years

Answer 1

the intrest due on$250 at 11% for 2 years 55.00

Answer 2

$\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \ 250\\ r=rate\to 11\%\to \frac{11}{100}\to &0.11\\ t=years\to &2 \end{cases} \\\\\\ I=(250)(0.11)(2)\implies I=55$