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patriot [66]
3 years ago
15

A bank offers a savings account with a yearly simple interest rate of 2%. Suppose you deposit $550 into a savings account. How m

uch simple interest will you earn in 4 years and six months?
Mathematics
2 answers:
cricket20 [7]3 years ago
6 0

Answer:

49.5(interest)

599.5 (total amount)

Step-by-step explanation:

A=P(1+rt)

A=550(1+.02*4.5)

A=550(1+.09)

A=550(1.09)

A=599.5 (total amount)

599.5-550=49.5(interest)

Shkiper50 [21]3 years ago
6 0
550 x 0.02 = 11

11 x 4.5 = 49.5

ANSWER: $49.5 of simple interest
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