Marsha deposited 10,000$ into a savings account 3 years ago. The simple interest rate is 2%. How much money did she earn in i
nterest? What would be her new account balance?
1 answer:
Answer:
$600
Step-by-step explanation:
Given data
Principal= $10000
Time = 3 years
Rate= 2%
The simple interest formula is expressed as
SI= PRT/100
substitute
SI= 10000*2*3/100
SI= 60000/100
SI= 600
Hence he will earn $600 in interest
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