Question

Marsha deposited $8500 into a savings account 2 years ago. The simple interest rate is 5% how much did Marsha earn in interest

Answer 1

Marsha earned $850 in interest over 2 years.

Step-by-step explanation:

To calculate the amount of interest earned, we can use the simple interest formula:

Interest = Principal × Rate × Time

In this case, Marsha deposited $8500 (the principal), the interest rate is 5%, and the time is 2 years.

Interest = $8500 × 0.05 × 2 = $850

Therefore, Marsha earned $850 in interest over 2 years.

Answer 2

Marsha earned interest = $850

Step-by-step explanation:

Amount deposited = $8500

Time = 2 years

Interest rate = 5% = 0.05

We need to find how much did Marsha earn in interest

The formula use is:
`I=P* r * t`

Where I is interest earned, P is amount deposited, r is interest rate and t is time.

Putting values and finding interest.

`I=P* r * t\\I=8500* 2* 0.05\\I=850`

So, Marsha earned interest = $850