Ask Question
1 December, 12:15

Find the simple interest earned by each account. $1,200 principal at 5.5% interest for 25 years

+3
Answers (1)
  1. 1 December, 12:27
    0
    The simple interest is $1650

    Step-by-step explanation:

    Simple Interest = PRT/100

    where p = principal, r = rate and t = time

    p = $1200, r = 5.5%, and t = 25 years

    SI = (1200*5.5*25) / 100

    SI = 12*5.5*25

    SI = $1650
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Find the simple interest earned by each account. $1,200 principal at 5.5% interest for 25 years ...” 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