Question

Molly placed $115. 00 in a savings account. This savings account earns 1. 5% interest per year. She did not add or take out any money from this account. How much money did she earn in interest at the end of four years? *

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$115\\ r=rate\to 1.5\%\to (1.5)/(100)\dotfill &0.015\\ t=years\dotfill &4 \end{cases} \\\\\\ I = (115)(0.015)(4) \implies I = 6.9`