Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Our platform provides a seamless experience for finding precise answers from a network of experienced professionals. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

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

Sagot :

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

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.