Question

deposited ​$8500 into a savings account 3 years ago. The simple interest rate is 2​%. How much money did marsha earn in​ interest?

Answer 1

Answer:Marsha earned interest = $850

Explanation:

Amount deposited = $8500

Time = 2 years

Interest rate = 5% = 0.05

We need to find how much did Marsha earn in interest

The formula use is:

Where I is interest earned, P is amount deposited, r is interest rate and t is time.

Putting values and finding interest.

So, Marsha earned interest = $850