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Mr. Peterson made a deposit of $5,500 into an account that earns 6% annual simple interest. How much will Mr. Peterson earn in interest over a 20-year period?

Mr. Peterson made a deposit of $5,500 into an account that earns 6% annual simple interest. How much will Mr. Peterson earn in interest over a 20-year period?
asked 49.0k views
2 votes
Mr. Peterson made a deposit of

$5,500 into an account that
earns 6% annual simple interest.
How much will Mr. Peterson earn
in interest over a 20-year
period?

asked
User Rajarshee Mitra
by
7.9k points

2 Answers

1 vote

Answer:116,600

Step-by-step explanation:5,500 x 20 = 110,000 + 6% = 116,600

answered
User JonniBravo
by
8.2k points
2 votes
the answer is 6600, (extra words because it needs to be 20 characters$
answered
User Ingusmat
by
7.6k points
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