Question 1155095: Bonnie has £60 in a savings account.Theinterest rate is 5% per year and is not compounded.How much interest will she earn in 5 years?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
Answer by ikleyn(52887)   (Show Source):
You can put this solution on YOUR website! .
You are very happy person: you are just given a formula,
and all you need is to substitute the given values into the given formula, and then calculate.
Do you have difficulties with it ?
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To see many similar solved problems on simple interest accounts (YOUR TEMPLATES (!) ), look into the lesson
- Simple interest percentage problems
in this site.
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