Mr. Peterson made a deposit of $5,500 into an account that earns 6% annual simple interest. How much will Mr. Peterson earn in interest over a 20-year period?

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asked Jan 21, 2022 49.0k views

2 votes

Mr. Peterson made a deposit of

$5,500 into an account that
earns 6% annual simple interest.
How much will Mr. Peterson earn
in interest over a 20-year
period?

Mathematics
high-school

Rajarshee Mitra asked

by Rajarshee Mitra

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2 Answers

1 vote

Answer:116,600

Step-by-step explanation:5,500 x 20 = 110,000 + 6% = 116,600

JonniBravo answered Jan 22, 2022

by JonniBravo

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2 votes

the answer is 6600, (extra words because it needs to be 20 characters$

Ingusmat answered Jan 28, 2022

by Ingusmat

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