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jennifer invests $2,302 in a money market account. the account pays 2.1% simple interest annually. if she doesn’t add or subtract any money, is it reasonable to expect that jennifer will earn about $200 in simple interest in 5 years?

Sagot :

Jennifer would earn more than $200. She would earn $230.02 over the period.

What is the simple interest that Jennifer would earn?

Simple interest is a type of interest paid only on the money invested.

Simple interest = amount invested x interest rate x time

2302 x 5 x 0.021 = $230.20

To learn more about simple interest, please check: https://brainly.com/question/27328409

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