Answer:
$54.00
Explanation:
Simple Interest Formula
I = Prt
where:
- I = Interest earned.
- P = Principal invested.
- r = Annual interest rate (in decimal form).
- t = Time (in years).
Given values:
- P = $600
- r = 4.5% = 0.045
- t = 2 years
Substitute the given values into the formula and solve for I:
Therefore, the total interest earned was $54.00.