Question

sally invests 10,500 in an account that earns 6% annual simple interest. assuming she makes no additional deposits or withdraws, how much interest will sally earn after 4 years?

Answer 1

The interest is: $2520.00

Explanation:

P is the principal amount, $10500.00.

r is the interest rate, 6% per year, or in decimal form, 6/100=0.06.

t is the time involved, 4....year(s) time periods.

So, t is 4....year time periods.

To find the simple interest, we multiply 10500 × 0.06 × 4 to get that