Question

1. Ben invests $500 in a savings

account that earns 6% simple
interest annually. After 2 years,
how much interest will Ben have
earned on his savings account?
A. $30.00
B. $60.00
C. $530.00
D. $560.00

Answer 1

B

Explanation:

6% of $500 = $30

$30 * 2 = $60

$500 + $60 = $560