brucewayne1815 brucewayne1815

24-04-2021
Mathematics

contestada

Katie has $600 in a savings account that earns 5% annually. The interest is not compounded. How much interest will she earn in 1 year ?

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boblepop8 boblepop8

24-04-2021

Answer:

$30

Step-by-step explanation:

The formula for interest is I = Prt

Principal = 600

Rate = 0.05 or 5%

Time: 1 year

600 x 0.05 x 1 = 30

She earned an interest of 30.

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