Suzanne deposited $2,500 in a savings account earning 3.5% simple interest. What was the total interest earned after 6 years? Qu

Question

Stels [109]

3 years ago

14

Suzanne deposited $2,500 in a savings account earning 3.5% simple interest. What was the total interest earned after 6 years? Qu

estion 2 options:
$52.50

$450

$525

$4,500

Mathematics

1 answer:

pav-90 [236] · Answer 1 · 2022-02-01T09:59:25+03:00

pav-90 [236]3 years ago

4 0

Answer: $525 (choice C)

Work shown:

P = 2500 is the deposit amount, r = 0.035 is the decimal form of 3.5% interest, and t = 6 is the number of years. All of these values are plugged into the formula below:

i = P*r*t

i = 2500*0.035*6

i = 525