SOLUTION: How much do you make in interest in a year if I have $55,000 in a savings account that pays 2% interest per year

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Question 1041246: How much do you make in interest in a year if I have $55,000 in a savings account that pays 2% interest per year
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
I assume it's simple interest and not compound interest
+I+=+P%2Ar%2At+
+I+=+55000%2A.02%2A1+
+I+=+1100+
$1,100