SOLUTION: Can you please help me solve this problem: "A saving account earns 4.5% simple interest per year. If $650.00 is deposited and no withdrawals or deposits are made during one year, h

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Can you please help me solve this problem: "A saving account earns 4.5% simple interest per year. If $650.00 is deposited and no withdrawals or deposits are made during one year, h      Log On


   

Question 143410: Can you please help me solve this problem: "A saving account earns 4.5% simple interest per year. If $650.00 is deposited and no withdrawals or deposits are made during one year, how musch interests will be earned after one year?"
Answer by Earlsdon(6294) About Me  (Show Source):
You can put this solution on YOUR website!
The amount earned after one year on a deposit of $650 at 4.5% simple interest per year is simply 4.5% of $650 or (0.045)($650) = $29.25