Question

Ana earns 2.5% simple interest on $2,000 in her savings account. She does not make any deposits or withdrawals. After 3 years, how much interest will Ana have earned on her savings account?

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$2000\\ r=rate\to 2.5\%\to (2.5)/(100)\dotfill &0.025\\ t=years\dotfill &3 \end{cases} \\\\\\ I=(2000)(0.025)(3)\implies I=150`