Question

Please help

Suzanne deposited $2500 in a savings account earning 3.5% interest.

What was the total interest earned at the end of 6 years?

A.
$52.50

B.
$87.50

C.
$525.00

D.
$5250.00

Answer 1

Given:
Principal = 2,500
rate = 3.5%
term = 6 years

Simple interest = Pricipal x rate x term
S.I. = 2500 x 3.5% x 6
= 87.50 x 6
S.I. = 525.00 CHOICE C.

Suzanne will earn an interest of $87.50 per year and a total of $525 interest at the end of 6 years.