Question

Suzanne deposited $2500 in a savings account earning 3.5% interest.



What was the total interest earned at the end of 6 years?

Answer 1

Does anyone know how to do this/

Answer 2

Is this simple interest?

Answer 3

yea

Answer 4

For simple interest, use this formula:
I = prt
where I = interest earned
p = principal amount
t = time in years

Answer 5

Also, above, I forgot this line
r = interest rate written as a decimal.

For your problem, p = $2500; r = 3.5% = 0.035; t = 6 years

Answer 6

? help

Answer 7

I = prt
I = 2500 * 0.035 * 6
Just multiply the numbers above together.