If you deposit or put in $1550 into a savings account earning 7.2% simple interest for 2 years, how much money total will you have in your account? Show the equation you use and solve.

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asked Feb 5, 2022 165k views

11 votes

If you deposit or put in $1550 into a savings account earning 7.2% simple interest for 2 years, how much money total will you have in your account? Show the equation you use and solve.

Mathematics
high-school

Karri asked

by Karri

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1 Answer

8 votes

Answer:

22320

Explanation:

simple interest= p (deposit) × r (rate) × t (time)

=1550×7.2×2

=22320

Kevin Viggers answered Feb 9, 2022

by Kevin Viggers

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