Mathematics, 09.07.2019 03:00 KaleahV
How much interest will you earn by investing $1200 at a simple interest rate of 2.5% per year for 6 years?
Answers: 2
![\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\A=P(1+rt)\qquad\begin{cases}A=\textit{accumulated amount}\\P=\textit{original amount deposited}\dotfill & \$1200\\r=rate\to 2.5\%\to \frac{2.5}{100}\dotfill &0.025\\t=years\dotfill &6\end{cases}\\\\\\A=1200[1+(0.025)(6)]\implies A=1200(1.15)\implies A=1380](/tpl/images/0067/9119/793ea.png)
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