26-05-2021
Mathematics

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Shari deposited $5,000 in a simple interest account that pays 3% interest annually. If she leaves the money in the account for 5 years, how much interest will she earn?

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ZzainabB ZzainabB

26-05-2021

Answer:

750

Step-by-step explanation:

A = P(1 + rt)

A = 5000(1 + 0.03(5))

A = 5000(1 + 0.15)

A = 5000(1.15)

A = 5750

Interest earned = 5750 - 5000

= 750

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