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17 October, 04:56

Marlena save $50 in an account earning 3.5% simple interest. How much would her account earn in 10 years?

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  1. 17 October, 05:19
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    Answer: Her account would earn $17.5

    Step-by-step explanation: The earning on a given amount with simple interest can be computed as follows;

    Interest = PRT/100

    Where P is the principal (initial amount), R is the rate of interest and T is the number of years. The formula now becomes,

    Interest = (50 x 3.5 x 10) / 100

    Interest = 1750/100

    Interest = 17.5

    Therefore, in 10 years her account would have earned $17.5
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