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Elenna [48]
3 years ago
13

Mikaela will invest $2,500 in an account that pays her 7.5% over 2 years. How much interest will she receive? Also, how much wil

l she make total?
Mathematics
1 answer:
Anika [276]3 years ago
5 0

Answer:

i. $375

ii, $2875

Step-by-step explanation:

Given

Princinpal=  $2,500

rate= 7.5%

time= 2 years

Required,

The simple interest, and the final amount

Step two:

SI= PRT/100

SI= 2500*7.5*2/100

SI=37500/100

SI=$375

The simple interest is $375

And the final amount = $2,500 +$375= $2875

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