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You put $200 in a savings account. The account earns 2% simple interest per year. What is the interest earned after 5 years?
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3 votes
You put $200 in a savings account. The account earns 2% simple interest per year. What is the interest earned after 5 years?

User Ryuslash
by
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2 Answers

4 votes

Answer:

20

Explanation:

2% / 100 = .02

200x.02x5=20

User Sojung
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4.5k points
3 votes
$20 because 2% of 200 is 4 times it by 5 is 20
User Flupkear
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