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Allison was left in inheritance from her great aunt on her 12th birthday however, space she is not able to touch it until she turns 21. Space she inherited $50,000 that was put in a counter 2% interest. Space how much interest will she earn?

Respuesta :

kellz8500

Answer:

$59,000

Step-by-step explanation:

Simple interest : A=P(1+R T)

A = Accrued

P = Principal amount

R = rate

T = time

P = 50,000

r = 2% or 0.02

t = 21-12 = 9 yrs

A = $ 50,000(1+ (0.02 x 9)

A = $ 50,000 x 1.18

A = $ 59,000

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