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1 August, 06:40

Ben deposited $6500 in a simple interest account that pays 2.8% interest annually. If Ben leaves the money in the account for 12 years how much interest will he earn?

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  1. 1 August, 10:00
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    Answer: $2184

    Step-by-step explanation:

    2.8% interest annaully

    Deposit $6500

    Annaully interest

    2.8% x $6500 / 100

    = $182

    Interest after 12 years.

    Principal x Rate x Time/100

    = $6500 x 2.8% x 12 / 100

    = $2184
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