Question

you put your money into a savings account, and it warns interest find the simple interest paid on your investment of $1675 with 2% interest over ten years

Answer 1

Answer:

$335

Step-by-step explanation:

$p = 1675 \\ r = 2\% \\ t = 10 \: \: years$

Now let's find the simple interest.

$\frac{prt}{100} \\ = \frac{1675 \times 2 \times 10}{100} \\ = \frac{3350}{10} \\ = 335$

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