SOLUTION: I need assistance in trying to show my work on the following problem. I know what the answer is, but i just dont know how to put it into an equation. You invest $80 at a simple

Question 152590: I need assistance in trying to show my work on the following problem. I know what the answer is, but i just dont know how to put it into an equation.
You invest $80 at a simple annual interest rate of 2%. How much simple interest would you earn in 1.5 years? Use unit analysis to check the units in your response.
Thanks verry much
Miranda (8th grade)
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Start with the simple interest formula.

Plug in , (note: 0.02=2%) and t=1.5

Multiply

So you'll earn $2.40 in interest after 1.5 years
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