Option A
The simple interest earned over 6 years is $ 4050
Solution:
Martha invested a principal amount of $15,000 into a savings account that earns simple interest at a rate of 4.5% per year
The formula for simple interest is given as:
Where, "p" is the principal and "n" is the number of years and "r" is the rate of interest
From given,
p = 15000
r = 4.5 %
n = 6 years
Substituting the values we get,
Thus simple interest earned over 6 years is $ 4050