Question

west deposited $15,500 in a saving account earning 2.5% interest what was the total interest earned at the end of 8 years

Answer 1

In this question use the formula
S.I. = prt / 100

Answer 2

what ?

Answer 3

o sorry for direct answer

Answer 4

Wait, the interest needed is coumpoundedly or simple interest?

Answer 5

ou want to calculate the interest on $15500 at 2.5% interest per year after 8 year(s).
The formula we'll use for this is the simple interest formula, or:


Where:

P is the principal amount, $15500.00.
r is the interest rate, 2.5% per year, or in decimal form, 2.5/100=0.025.
t is the time involved, 8....year(s) time periods.
So, t is 8....year time periods.
To find the simple interest, we multiply 15500 × 0.025 × 8 to get that:

The interest is: $3100.00
Usually now, the interest is added onto the principal to figure some new amount after 8 year(s),
or 15500.00 + 3100.00 = 18600.00. For example:

If you borrowed the $15500.00, you would now owe $18600.00
If you loaned someone $15500.00, you would now be due $18600.00
If owned something, like a $15500.00 bond, it would be worth $18600.00 now

Answer 6

Woops, I forgot to type the formula.
Here is the formula:
I = P*r*t

Answer 7

$3,100,00 is C

Answer 8

yeah ^

Answer 9

yes

Answer 10

that it

Answer 11

yes c is your answer

Answer 12

thx