Question

Trina deposited $8,060 in a savings account 6 years ago. The simple interest rate on the account is 2%. What is the amount of interest that Trina earned at the end of 6 years? Answer value

Answer 1

967.2 is the total interest earned

Explanation:

First determine what the interest rate is for each year

8060 x .02 = 161.2

Since it is simple interest the interest wont build on the additional amount so then find out how much total you'd make from interest

161.2 x 6 = 967.2

Answer 2

Answer:I = PRT

PRT = I

R = I/PT

R = 3224/(8060)(5)

R= 8%

Explanation:

this maybe the answer sorry if it isn’t