SOLUTION: Deposit $120 in a savings account that pays an annual interest rate of 2.5%. How much simple interest would you earn in 2 years?
I=Prt
I=(120)(0.025)(2)
I=6
2 years interest
Algebra.Com
Question 333280: Deposit $120 in a savings account that pays an annual interest rate of 2.5%. How much simple interest would you earn in 2 years?
I=Prt
I=(120)(0.025)(2)
I=6
2 years interest on $120 at a rate of 2.5%.
Is this correct?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
I = P*r*t
P=120
r= 2.5% = 0.025
t=2
..
I=120*0.025*2
I=$6
You were right
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