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3 years ago

Ruiz invests $5500 at a simple interest rate of 4%. How much interest will he earn after 5 years?

Mathematics

2 answers:

Anit [1.1K]3 years ago

8 0

Answer:

Interest earned after 5 years is $1100.

Step-by-step explanation:

We know that,

$i=\dfrac{Prt}{100}$

where,

i = interest

P = principal = $5500

r = rate of interest = 4%

t = time period = 5 years

Putting the values,

$i=\dfrac{5500\times 4\times 5}{100}$

$=\dfrac{110000}{100}$

$=\$1100$

Therefore, the interest earned after 5 years is $1100.

trapecia [35]3 years ago

5 0

1,100 is the interest earned after 5 years

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