Question

marsha deposited ​$5,000 into a savings account 2 years ago. The simple interest rate is 2​%. How much money did marsha earn in​ interest?

Answer 1

Explanation:

The equation for simple interest is

interest = p r t p = principal = $ 5000 r = decimal interest t = years

interest = $ 5000 * .02 * 2 = $ 200