Question

Ruiz invests $5500 at a simple interest rate of 4%. How much interest will he earn after 5 years?

Answer 1

$1100 after 5years....$220 per year

Answer 2

do you mind telling how you got that answer? like the steps? @s_slrussell

Answer 3

Simple Interest Formula\[F=Prt\]F=future amount
P=principal amount
r=interest
t=time in years.

Answer 4

Actualy F=Interest earned

Answer 5

thanks @PhoenixFire

Answer 6

i took the amount invested multiplied it by the intrest rate and got 220 per year and then multiplied that by the time of 5year and got the 1100