Question

An account earns simple interest. Find the interest earned.$650​ at 2%​ for 6​ years The interest earned is $.

Answer 1

Answer: Legit just learned this in finance yesterday

Starting: 650 Interest: 2% Years: 6

2% of 650 (650 times .02) = 13

13 dollars per year = 13 + 13 + 13 + 13 + 13 + 13 = 78

650 + 78 = 728

After 6 years, the account will have $728.

Answer 2

`78`

Explanation:

Given, Principal= $650

Rate = 2%

Time = 6 years

Interest = P × R × T/100

Therefore, Interest = 650 × 2 × 6/100

{ dividing 2 and 100 to get 50 }

`650 * 6 / 50`

( dividing 650 and 50 to 13 )

=

`13 * 6`

`78`

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