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25 December, 03:38

Suzanne deposited $2,500 in a savings account earning 3.5% simple interest. What was the total interest earned after 6 years? Question 2 options:

$52.50

$450

$525

$4,500

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Answers (1)
  1. 25 December, 03:57
    0
    Answer: $525 (choice C)

    Work shown:

    P = 2500 is the deposit amount, r = 0.035 is the decimal form of 3.5% interest, and t = 6 is the number of years. All of these values are plugged into the formula below:

    i = P*r*t

    i = 2500*0.035*6

    i = 525
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