A $5000 How much interest is earned an depus it at 4.5% interest over 6 Years? 4.5 = 0.045

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Sheldonzy asked Oct 22, 2023

227,028 views

3 votes

A $5000

How much interest is earned an
depus it at 4.5% interest over 6 Years?
4.5
= 0.045

Mathematics
high-school

Sheldonzy asked Oct 22, 2023

by Sheldonzy

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1 Answer

14 votes

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$5000\\ r=rate\to 4.5\%\to (4.5)/(100)\dotfill &0.045\\ t=years\dotfill &6 \end{cases} \\\\\\ I = (5000)(0.045)(6) \implies I = 1350$