Answer:
[tex]\boxed {\boxed {\sf \$ 100.00}}[/tex]
Step-by-step explanation:
The formula for simple interest is
[tex]I=prt[/tex]
where p is the principal, r is the rate, and t is the time.
The principal, or initial amount is $800 and the time is 5 years The interest rate is 2.5%, but we must convert to a decimal.
Divide by 100 or move the decimal place two spots to the left.
- 2.5/100=0.025 or 2.5 ⇒ 0.25 ⇒ 0.025
Substitute the known values into the formula.
[tex]p= 800 \\r= 0.025 \\t= 5[/tex]
[tex]I= (800)(0.025)(5)[/tex]
Multiply.
[tex]I=20(5)\\I=100[/tex]
After 5 years, Suzette's account has earned $100.00
