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You put $200 in a savings account. The account earns 2% simple interest per year. What is the interest earned after 5 years?

You put $200 in a savings account. The account earns 2% simple interest per year. What is the interest earned after 5 years?
asked 29.8k views
3 votes
You put $200 in a savings account. The account earns 2% simple interest per year. What is the interest earned after 5 years?

asked
User Ryuslash
by
7.5k points

2 Answers

4 votes

Answer:

20

Explanation:

2% / 100 = .02

200x.02x5=20

answered
User Sojung
by
8.4k points
3 votes
$20 because 2% of 200 is 4 times it by 5 is 20
answered
User Flupkear
by
8.1k points
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