Question

1 point 13. Ariana Grande put $400 into a savings account that earns 1.5% simple interest each year. After 5 years, how much interest will she earn?

Answer 1

We know that she put a principal of $400, the interest rate is 1.5% each year, and the time is 5 years. Using the simple interest formula, we have

`\begin{gathered} I=P* r* t \\ I=400*0.015*5=30 \end{gathered}`

Hence, she will earn $30.