Question

Marsha deposited $8,500 into a saving account 5 years ago. the simple interest rate is 5%. how much money did Marsha earn in interest?

Answer 1

$2125

Explanation:

Given

P=$8,500

t=5

r=5%

So simple interest=8500×5×5/100

= 85×5×5

=$2125

So the interest is $2125