Question

G if you deposit $2,000 into an account and it earns 6% interest, how much will you have in 11 years

Answer 1

Amount earned = $3320

Step-by-step explanation:

Given the following data;

Principal, P = $2,000

Interest rate, R = 6%

Time, T = 11 years

To find the simple interest;

S.I = PRT/100

S.I = (2000*6*11)/100

S.I = 20*6*11

S.I = $1320

Amount earned = Principal + S.I

Amount earned = 2000 + 1320

Amount earned = $3320