Question

Use the simple interest formula to find out how much interest Graham earns after 5 years. if he

leaves his $1,320 in the account with (3.2% interest.

Answer 1

Explanation:

`I=Prt` P=principal, r =interest rate, t=time

`I=1,320` ×
`(3.2)/(100)` ×
`5`

`= 211.20`

He will earn $211.20 interest.