Answered

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Drew put $5,200 in a savings account with a simpleinterest rate of 1.75%. How much interest will theamount earn after 15 years?

Sagot :

Given:

Principal, p=$5,200

Interest rate, r=1.75%

Years, t=15 years

To fnd the interest amount:

Using the simple interest formula,

[tex]\begin{gathered} SI=\frac{p\times r\times t}{100} \\ =\frac{5200\times1.75\times15}{100} \\ =1365 \end{gathered}[/tex]

Hence, the answer is, $1,365.

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