SOLUTION: what is the interest on $1200 invested for 2 years in an account that earns simple interest at a rate of 5% per year

SOLUTION: what is the interest on $1200 invested for 2 years in an account that earns simple interest at a rate of 5% per year

Algebra.Com

Question 772870: what is the interest on $1200 invested for 2 years in an account that earns simple interest at a rate of 5% per year
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I = Prt

I = 1200*0.05*2

I = 120

The interest is $120
RELATED QUESTIONS
What is the interest on $1200 invested for 2 years in an account that earns simple... (answered by tommyt3rd)

what is the interest on $950 invested for 4 years in an account that earns simple... (answered by addingup)

whatis the interest on $950 invested for 4 years in an account that earns simple interest (answered by rfer)

Hello, I need help with a simple interest financial question. Alex deposits a sum of... (answered by josmiceli)

What is the simple interest on $700 invested at 5% per year for 2... (answered by josmiceli)

Find the simple interest on a $1200 investment made for 2 years at an interest rate of... (answered by stanbon)

Suppose that an account earns 5.7% interest and after 2 years the balance is $2228. Find... (answered by ankor@dixie-net.com)

Determine the amount P that is invested at a simple interest rate of 6 1/2% for 5 years... (answered by mananth)

(1) $600 invested at simple interest for 2 years earns $96. what is the rate of interest... (answered by rfer)