Holly opened a savings account at a local bank. She deposited $3,100.00 into the account 9 years ago. If the account earns an
annual simple interest rate of 7.1%, how much interest has she earned?

Question

02-05-2022
Mathematics

Answered

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Holly opened a savings account at a local bank. She deposited $3,100.00 into the account 9 years ago. If the account earns an
annual simple interest rate of 7.1%, how much interest has she earned?

Sagot :

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Mewx13 Mewx13 · Answer 1 · 2022-05-02T21:12:29-04:00

Mewx13 Mewx13

02-05-2022

Answer:

She has earned $1980.90 in interest.

Step-by-step explanation:

Since we know that she deposited $3100 9 years ago, we know we have to find the amount of interest she gets per year times 9. So $3100*0.071 = $220.10 and then $220.1*9 = $1980.90. Therefore, she has earned $1980.90 in interest.

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MathingNotForMe MathingNotForMe · Answer 2 · 2022-05-02T21:15:08-04:00

MathingNotForMe MathingNotForMe

02-05-2022

Answer:

The answer is 1980.9

Step-by-step explanation:

Formula is PxRxT

P=Princlple(Amount of money desposited)

R=Rate the rate in deciaml form. Example: 7.1=0.071

T=Time

SI=3100x0.071x9=1980.9

P R T

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Holly opened a savings account at a local bank. She deposited $3,100.00 into the account 9 years ago. If the account earns an annual simple interest rate of 7.1%, how much interest has she earned?

Sagot :

Other Questions

Holly opened a savings account at a local bank. She deposited $3,100.00 into the account 9 years ago. If the account earns an
annual simple interest rate of 7.1%, how much interest has she earned?