Question

An account earns simple interest.

$1500 at 4% for 5 years

a. Find the interest earned.

Answer 1

heyo
so, do you know how to get the amount of interest per year?

Answer 2

nope

Answer 3

welll, you multiply the principle amount by the interest rate
so, in this case, multiply 1,500 by 0.04

Answer 4

ok

Answer 5

so, what's the amount?

Answer 6

1 sec

Answer 7

.... anyways, it's 60 dollars
but becauseit's for 5 years and it's only simple interest, multiply 60 by 5, which is 300 dollars