Question

A certificate of deposit with $600 principal earns 2. 5% interest for 6 years. How much is the interest earned for 6 years?

Answer 1

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \ 600\\ r=rate\to 2.5\%\to \frac{2.5}{100}\dotfill &0.025\\ t=years\dotfill &6 \end{cases} \\\\\\ I = (600)(0.025)(6)\implies I=90$