Question

Find the total amount of interest earned on this savings account.

Time: 7 years
Interest Rate: 2.5%
Principal: $4.556
Interest
$79.73
$797.30
$7,973
$79.730

Answer 1

B

Explanation:

797.30

Answer 2

$ 797.30

Explanation:

Given in question

Principal =$4,556

Rate of interest = 2.5%

Time period = 7 years

Now we calculate the interest as Simple interest (SI) method

SI =
`((principal * Rate * Time))/(100)`

SI =
`((4,556 * 2.5 * 7))/(100)`

SI =
`(79730)/(100)`

So , SI = $ 797.30 Answer