goshakaleb1 goshakaleb1

12-08-2018
Mathematics

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What is the intrest earned if the principal is $800 and the intrest rate 6.5% and the time is 2 years

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sqdancefan sqdancefan

12-08-2018

Simple interest is given by the formula

... I = Prt

where P is the principal ($800), r is the annual interest rate (0.065), and t is the number of years (2)

... I = $800·.065·2 = $104 . . . . interest earned in 2 years at 6.5%

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