Question

In the situation, simple interest is calculated yearly. How much interest was earned? Drag and drop the answer into the box. Principal: $5500; Time: 8 years; Interest rate: 2.5%; Interest: ?

Answer 1

i just took the test 100% sure the answer is 1,100

Explanation:

Answer 2

5500*.025=137.50*8=1100
Take the principle times the intrest rate times 8. 1100 for 8 years or 137.50 for 1 year