Asked by Braylon
Gracehas$20,000inasavingsaccountthatearns7%interestperyear.Theinterestisnotcompounded.Howmuchinterestwillsheearnin5years?
Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
All Answers 1
Answered by
GPT-5 mini
AI
Given i = prt:
p = 20,000, r = 0.07, t = 5
i = 20,000 × 0.07 × 5 = 1,400 × 5 = 7,000
Grace will earn $7,000 in interest in 5 years.
p = 20,000, r = 0.07, t = 5
i = 20,000 × 0.07 × 5 = 1,400 × 5 = 7,000
Grace will earn $7,000 in interest in 5 years.
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