If you deposit $5000 into a savings account, you will earn 6.5% simple interest over the first 10 years. How much interest will the account earn over this period?

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asked Feb 25, 2021 45.3k views

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If you deposit $5000 into a savings account, you will earn 6.5% simple interest over the first 10 years. How much interest will the account earn over this period?

Mathematics
high-school

Brent Schooley asked

by Brent Schooley

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1 Answer

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Answer:

$3250

Explanation:

interest=deposit×simple interest×time

interest=5000×6.5%×10

5000×65/1000×10=3250

ans;$3250

Nttaylor answered Mar 1, 2021

by Nttaylor

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