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Liu deposited 3,500 into a savings account . The simple interest rate is 4%. How much interest will the account earn in 2 years . Interest = interest rate x principal x time
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Liu deposited 3,500 into a savings account . The simple interest rate is 4%. How much interest will the account earn in 2 years .

Interest = interest rate x principal x time

User ZengJuchen
by
5.8k points

1 Answer

6 votes

Answer:

$280

Explanation:

Interest = Interest Rate x Principal x time

Interest = 0.04 x $3,500 x 2

Interest = $280

User Fgalan
by
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