Question

Each year on the same day, Susan deposits $275 into a savings account that earns simple interest at a rate of 4.5%. She makes no withdrawals. In five years, how much interest does the account earn?

$12.38
$61.90
$99.01
$185.64



PLEASE HELP! AND SHOW WORK!

Answer 1

Answer:b

hope this helps

Answer 2

$61.90

Explanation:

Simple interest (S.I) = principal (P) * rate (R)* time (T)

S.I = 275 * 0.045 *5 = $61.875

S.I = $61.875 which is approximately $61.90