2 years ago

Alexandra deposited $1,000 in

1 answer:

4 0

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1000\\ r=rate\to 3.5\%\to \frac{3.5}{100}\dotfill &0.035\\ t=years\dotfill &5 \end{cases} \\\\\\ I = (1000)(0.035)(5)\implies I=175$

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