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Mekhanik [1.2K]
3 years ago
11

Klein opened a savings account that paid 5% simple interest with 6,000 in principal. If Klem left that money untouched in the ac

count for ten years,then how much interest with he have earned?
Mathematics
1 answer:
horrorfan [7]3 years ago
5 0

Answer:

I= $3,000

Step-by-step explanation:

Giving the following information:

Klein opened a savings account that paid 5% simple interest with 6,000 in principal.

Number of periods= 10 years

<u>To calculate the interest earned, we need to use the following formula:</u>

I= P*r*t

P= principal

r= interest rate

t= time

I= 6,000*0.05*10

I= $3,000

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