On a deposit of $50 at a simple interest rate of 9%, how much interest will you earn after 12 years?

Answer: $54.00

Step-by-step explanation:

I = Prt

I is interest earned: unknown

P is the principal (amount you invested) : 50

r is the rate: 9% = 0.09

t is the length of time: 12

I = 50 (0.09) (12)

= 50 (1.08)

= 54.00