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Darina [25.2K]
3 years ago
9

Marsha Deposited $5,500 into a savings account 5 years ago. The simple interest rate is 2%. How much money did Marsha earn in in

terest?
Mathematics
2 answers:
Naily [24]3 years ago
8 0

Answer: $550.00

Step-by-step explanation: Equation: I = Prt

<u>Calculation:</u>

First, converting R percent to r a decimal

r = R/100 = 2%/100 = 0.02 per year,

then, solving our equation

I = 5500 × 0.02 × 5 = 550

I = $ 550.00

The simple interest accumulated

on a principal of $ 5,500.00

at a rate of 2% per year

for 5 years is $ 550.00.

Hope this helped! ;)

Ray Of Light [21]3 years ago
7 0
550.00 answer is that
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