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velma invested $5400 in a savings account with a yearly interest rate of 4% for 7 years. How much simple interest did she earn?

Respuesta :

hihihigoats

5400*0.04(rate)=216


Because it's simple interest for 7 years, 216*7 should be the answer


So $1512

JeanaShupp

Answer: Simple interest = $1512

Step-by-step explanation:

Given: The principle amount (P)=$5400

The rate of interest (r)= 4%=0.04

Time (t)= 7 years

The formula to calculate the simple interest is given by :-

[tex]S.I.=Prt\\\\\Rightarrow\ S.I.=\$5400\times0.04\times7\\\\\Rightarrow\ S.I.=\$1512[/tex]

Therefore, the simple interest earned by Velma = $1525

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