asked 201k views
2 votes
Nicole deposited $250 into a savings account that earns 1.5% simple interest per year. Use this information to complete the statement. After six years, Nicole will have earned $___ in interest, and the total balance of her savings account will be $___.

asked
User Ismriv
by
8.5k points

1 Answer

1 vote
Hi!

Simple interest formula is deposit*time in account*interest rate.
250*6*1.5% is $22.5

Hope it helped!
answered
User Bilgin
by
7.7k points
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