teresamm000tm
teresamm000tm teresamm000tm
  • 15-04-2021
  • Mathematics
contestada

Debbie has $460 in a savings account that earns 8% simple interest annually. How much interest will she earn in 5 years?

Respuesta :

abudimohamad
abudimohamad abudimohamad
  • 15-04-2021

Answer:

Hello! The interest would be $184. You would have to use the formula

I= P x r x t. I would equal interest, p is principal amount, r is interest rate and t is the time involved which is 5 years. But first you have to divide 8% by 100 which is 0.08. 460 x 0.08 x 5= $184

Step-by-step explanation:

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