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Marsha deposited $9,500 into a savings account 2 years ago. The simple interest rate is 2%. How
much money did Marsha earn in interest?
Substitute the values into the equation.
Interest=$years

Respuesta :

mhanifa

Answer:

  • $380

Step-by-step explanation:

Given

  • Deposit amount  P  = $9500
  • Interest rate r = 2%
  • Time t = 2 years

Use interest formula:

  • I = Prt

Substitute given values and calculate:

  • $9500*0.02*2 = $380

Hi1315

Answer:

$ 380

Step-by-step explanation:

We can use the below formula to find the simple interest.

Simple interest = P r t ÷ 100

Here,

P ⇒ Principal ⇒ $ 9500

r ⇒ rate ⇒ 2%

t ⇒ time ⇒ 2 years

Let us solve it now.

Simple interest = P r t ÷ 100

Simple interest = 9500 × 2 × 2 ÷ 100

Simple interest = 38000 ÷ 100

Simple interest = $ 380

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