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18 April, 21:11

If spencer deposits $150 at a simple interest rate of 5%, how much interest will he have earned after 2 years?

A. $10.00

B. $15.00

C. $18.00

D. $22.50

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  1. 18 April, 21:19
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    B. $15.00

    Step-by-step explanation:

    Assuming the interest rate is annually, we first have to calculate how much 5% is of $150:

    150 *.05 = $7.50

    So, at the rate of 5% (or $7.50) annually:

    7.50 * 2 = 15.00

    Spencer will have earned $15.00 on his investment after two years.
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