Sally invests $10,500 in an account that earns 6% annual simple interest. Assuming she makes no additional deposits or withdrawa
ls, how much interest will Sally earn after 4 years?
I SWEAR I WILL MARK YOU BRAINIEST
1 answer:
Answer: $2520
Step-by-step explanation:
The simple Interest earned on a deposit of P that has a rate of r% and a period of t years can be calculated by using the formula:
(P × R × T)/100
where P is principal
R is rate
T is time
P=$10,500
R=6%
T=4 years
Therefore:
Interest= (10500 × 6 × 4)/100
= 252000/100
= 2520
Sally will earn $2520 as interest after 4 years.
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