If you deposit $100 in a savings account that earns simple interest at a rate of 1.5% per year how much interest will you have earned after five years

ANSWERS

2015-11-11 06:14:59

Equation: L=P*R*T P=100 R=1.5%=0.015 T=5 Multiply and you get 7.5 as the interest.

2015-11-11 06:16:14

$100 × 1.5 = $150 $150 × 5 = $750

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