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How much simple interest is earned on an investment of 1,250 if the money is invested for 5 years at an annual interest rate of 4.5%

How much simple interest is earned on an investment of 1,250 if the money is invested for 5 years at an annual interest rate of 4.5%
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How much simple interest is earned on an investment of 1,250 if the money is invested for 5 years at an annual interest rate of 4.5%

User Kaleissin
by
8.4k points

1 Answer

5 votes

Answer: $281.25

Work Shown:

i = P*r*t

i = 1250*0.045*5

i = 281.25

User Marco Piccolino
by
8.1k points
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