Question

Find the interest earned for $650 at 2% for 6 years

Answer 1

Answer: $78.00

the answer is 78.00

Answer 2

I = $ 78.00

Explanation:

First, converting R percent to r a decimal

r = R/100 = 2%/100 = 0.02 per year,

then, solving our equation

I = 650 × 0.02 × 6 = 78

I = $ 78.00

The simple interest accumulated

on a principal of $ 650.00

at a rate of 2% per year

for 6 years is $ 78.00.