Question

Debbie has $460 in a savings account that earns 8% simple interest annually. How much interest will she earn in 5 years?

Answer 1

Hello! The interest would be $184. You would have to use the formula

I= P x r x t. I would equal interest, p is principal amount, r is interest rate and t is the time involved which is 5 years. But first you have to divide 8% by 100 which is 0.08. 460 x 0.08 x 5= $184

Explanation: