Travis invests 25,000$ in a savings account that pays 2.75% simple interest. How much interest does he earn each year?

A 787.50$

B 625.00$

C 657.50$

D 687.50$

Question

Mathematics

Janiya Glass

17 June, 19:54

Travis invests 25,000$ in a savings account that pays 2.75% simple interest. How much interest does he earn each year?

A 787.50$

B 625.00$

C 657.50$

D 687.50$

+4

Answers (2)

Know the Answer?

Aidyn Black · Answer 1

I believe you start with 25,000 and multiply it by 0.0275 (2.75%) and you get D, $687.5 as your answer.

Madden Hancock · Answer 2

Since Travis invest $25,000 in a savings account, and the account pays 2.75% simple interest, I believe you will need to multiply 25,000 by 2.75.

25,000x2.75=$687.50

Therefore, it would be D: $687.50

Travis invests 25,000$ in a savings account that pays 2.75% simple interest. How much interest does he earn each year?A 787.50$B 625.00$C 657.50$D 687.50$

Travis invests 25,000$ in a savings account that pays 2.75% simple interest. How much interest does he earn each year?

A 787.50$

B 625.00$

C 657.50$

D 687.50$