Question

Hillary opened a savings account with $1,500. How much simple interest will she earn if she leaves the money in the account for two years at an interest rate of 0.025? Use the formula i = prt .

Answer 1

I'm assuming the "0.025" means 2.5%

if it's really 0.025%, then you need to turn that into r = 0.00025 which is very small, so that's why I'm thinking it's actually 2.5%

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If it's 2.5%, then in this case, p = 1500, r = 0.025, t = 2