Ask Question
27 July, 19:32

Velma invested $5400 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

+2
Answers (2)
  1. 27 July, 19:51
    0
    5400*0.04 (rate) = 216

    Because it's simple interest for 7 years, 216*7 should be the answer

    So $1512
  2. 27 July, 19:55
    0
    Multiply everything together using the formula I=PRT since Principal = 5,400, Rate = 4%, and Time = 7 years
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Velma invested $5400 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers