Question

If $200 is put in the bank and each year the account earns 5% simple interest, then how much interest will be earned in two years?

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$200\\ r=rate\to 5\%\to (5)/(100)\to &0.05\\ t=years\to &2 \end{cases} \\\\\\ I=200(0.05)(2)`