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Find the interest due on $250 at 11% for 2 years
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5 votes
Find the interest due on $250 at 11% for 2 years

User Kyle Dumovic
by
6.4k points

2 Answers

5 votes

Interest = principal amount * rate * time

P = $250

R = 11% = 0.11

t = 2

Multiply them together to get 55.00

So the interest rate is $55

User WolfiG
by
6.7k points
4 votes

55$

((.11)250)*2

55+250=305

305 dollars after 2 years, 55 dollars interest after 2 years

User Tiago Vaccari
by
6.1k points
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