Today, you deposit $2,500 in a bank account that pays 3.6 percent simple interest.How much interest will you earn over the next 5 years?
A)$90.00
B)$120.00
C)$450.00
D)$483.59
E)$492.27

Name: Today, you deposit $2,500 in a bank account that pays 3.6 percent simple interest.How much interest will you earn over the next 5 years? A)$90.00 B)$120.00 C)$450.00 D)$483.59 E)$492.27
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Simple interest is calculated as Principal x Rate x Time. Here, $2,500 x 0.036 x 5 = $450.00.

Today, You Deposit $2,500 in a Bank Account That Pays