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OpenStudy (anonymous):
Ruiz invests $5500 at a simple interest rate of 4%. How much interest will he earn after 5 years?
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OpenStudy (anonymous):
$1100 after 5years....$220 per year
OpenStudy (anonymous):
do you mind telling how you got that answer? like the steps? @s_slrussell
OpenStudy (phoenixfire):
Simple Interest Formula\[F=Prt\]F=future amount P=principal amount r=interest t=time in years.
OpenStudy (phoenixfire):
Actualy F=Interest earned
OpenStudy (anonymous):
thanks @PhoenixFire
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OpenStudy (anonymous):
|dw:1354683314834:dw|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
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