Please solve and explain how you got your answer. (Thank you, MARKING BRAINIEST!!)
2 answers:
You might be interested in
Answer:
Step-by-step explanation:
The formula to find the final amount after getting simple interest :
, where P is the principal amount , r is rate of interest ( in decimal )and t is time(years).
Given : Justin deposited $2,000 into an account 5 years ago.
i.e. P = $2,000 and t= 5 years
He has just withdrawn $2,876.
i.e. we assume that A = $2876
Now, Put all the values in the formula , we get
In percent,
hence, He earned of interest on account.