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Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.
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15 votes
Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

User Mazyod
by
7.7k points

1 Answer

7 votes

Answer:

$6.75

Explanation:

Interest =
(1.5)/(100) × 2 × $225

= $6.75

User Nemanja G
by
8.3k points
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