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31 July, 14:25

Richard deposited $5500 for 6 years on 2.40% interest rate in his savings account. How much simple interest will he earn?

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  1. 31 July, 15:41
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    Hello,

    Shall we begin?

    prinicipal = 5.500

    time = 6 years

    tax = 2.4% per year

    j = interest=?

    j = cit

    j = 5.500 * 0,024 * 6

    j = 792

    Answers: interest 792.00
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