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Marsha deposited $12,000 into a savings account 5 years ago. The simple interest rate is 4%. How much money did Marsha earn in interest?
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3 votes
Marsha deposited $12,000 into a savings account 5 years ago. The simple interest rate is 4%. How much money did Marsha earn in interest?

User Benoit Bertholon
by
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1 Answer

2 votes

Answer:

$2,400

Step-by-step explanation:

Interest = capital x interest rate x duration

Interest = $12,000 x 4/100 x 5

Interest = $2,400

User Kiran Bheemarti
by
5.8k points
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