Question

Lorraine invested $5500 in a savings account with a yearly interest rate of 6% for 9 years. How much simple interest did she earn?

Answer 1

A formula for this is I=prt, your "i" is the interest so the way to set this up would be 5500=6%r9 you would multiple 6&9 then you should get 5500=54r. divide 54 and 5500 that should turn out to be 101. 85, rounded of course. Hope that helped.