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Edward deposited ​$5000 into a savings account 5 years ago. The simple interest rate is ​2%. How much money did earn in​ interest? Interest​=$____*____*____
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Edward deposited ​$5000 into a savings account 5 years ago. The simple interest rate is ​2%. How much money did earn in​ interest?

Interest​=$____*____*____

User Matt Fichman
by
7.2k points

1 Answer

8 votes

Answer:

  • $500

Explanation:

  • Deposit = $5000
  • Interest rate = 2% simple
  • Time = 5 years

Interest amount is:

  • $5000*2*5/100 = $500

User Massimo Variolo
by
6.3k points
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