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19 July, 13:51

you have to deposit $10000 into a savings account that earns simple interest at a rate of 4.5% per year. how much interest will be in the account after 2 years

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  1. 19 July, 13:57
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    900

    You deposited 10,000 into your savings account, have a rate of 4.5% (which will now be. 045), and you need to know how much interest you'll have after 2 years, all in simple interest.

    so, you need to use the formula: I=P*r*t

    P = the money you deposited or invested

    r = the rate

    t = is the time, preferably in years

    This would be what you mulitply: 10,000*.045*2=

    900.

    so you will have $900 in simple interest after 2 years
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