Question

Hillary opened a savings account with $1,500. How much simple interest will she earn if she leaves the money in the account for two years at an interest rate of 0.025? Use the formula i = prt.

Answer 1

She will earns $75 interest

Step-by-step explanation:

The simple interest formula is I = Prt, where

• P is the initial money invested
• r is the interest rate in decimal
• t is the time of investment

∵ Hillary opened a savings account with $1,500

∴ P = 1500

∵ She leaves the money in the account for two years at an

   interest rate of 0.025 (simple interest)

∴ r = 0.025

∴ t = 2

- Substitute all of these values in the formula above

∵ I = (1500)(0.025)(2)

∴ I = 75

She will earns $75 interest

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Answer 2

Answer:

$75

Step-by-step explanation:

I=1500*0.025*2