Question

Tom gave $500 to Mary at a simple interest of 5% per year. How much interest would he get after 2 years?
$100
$200
$50
$25

Answer 1

I= Prt. So plug it in you get I= $500 x 0.05 x 2, then it goes to $25 x 2= $50 interest after two years. Is that what you got or were you confused

Answer 2

Or am I wrong

Answer 3

You're right Justin good job. :p