Question

Jen deposits $9,500 into a bank account that pays her 4.5% simple interest for 5 years. How much interest will she earn over 5 years?

Answer 1

9927.50$

Multiple 9500 by 0.045 you will get 572.5 which you subtract from 9500

Answer 2

9927.5$

Explanation:

4.5% 0f 9500 is 427.5$ which is growing in 5 years.