Question

PLEASE, I NEED ANSWER NOW!

Molly had $30 in a savings account. The simple interest is 5% per year. How much interest she earn in 2 years?

Please explain how did you get it.

Answer 1

Explanation:

P = $ 30

r (rate of interest) = 5%

t (no. of years = 2 years

Simple interest = Prt/100

`=(30*5*2)/(100)\\\\=(3*5*2)/(10)\\\\`

= $3