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Edward deposited ​$5,500 into a savings account 2 years ago. The simple interest rate is 4​%. How much money did edward earn in​ interest?

Edward deposited ​$5,500 into a savings account 2 years ago. The simple interest rate is 4​%. How much money did edward earn in​ interest?
asked 187k views
17 votes
edward deposited ​$5,500 into a savings account 2 years ago. The simple interest rate is 4​%. How much money did edward earn in​ interest?

asked
User Losttime
by
8.9k points

2 Answers

10 votes

Answer:

$440 in interest

Explanation:

5500*0.08 (because 4% interest * 2 years)

440

answered
User Taum
by
8.7k points
1 vote
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User Dmitrii Smirnov
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