Find the simple interest earned by each account. $1,200 principal at 5.5% interest for 25 years

Question

Mathematics

Shayna

10 June, 04:27

Find the simple interest earned by each account. $1,200 principal at 5.5% interest for 25 years

+1

Answers (1)

Know the Answer?

Kamari Trevino · Answer 1

The simple interest is $1650

Step-by-step explanation:

Simple Interest = PRT/100

where p = principal, r = rate and t = time

p = $1200, r = 5.5%, and t = 25 years

SI = (1200*5.5*25) / 100

SI = 12*5.5*25

SI = $1650