+299 An account earns simple interest. Find the interest earned principal, interest rate, or time
Question 1 interest earned ? principal $1450 interest rate 9% time 5 years
Question 2 interest earned $10 principle $250 interest rate 4% time ?
+128408 Simple interest formula :
Interest earned = Principal * Interest Rate * Time (in years)
So......for the first one
Interest earned = 1450 * (.09) * (5) = $652.50
The second one is a little trickier....we have...
10 = 250 * .04 * Time simplify
10 = 10 * Time divide both sides by 10
1 = Time
So ... 1 year
