Cindi deposited $300 at 7.5% simple interest rate. How much interest will she earn after 5 years?

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Cindi deposited $300 at 7.5% simple interest rate. How much interest will she earn after 5 years?

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Nem 3 years 2021-08-28T13:33:07+00:00 1 Answers 4 views 0

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  1. Cherry
    0
    2021-08-28T13:34:55+00:00
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    Answer:

    $431

    Step-by-step explanation:

    using the formula P(1+r/100)^n,

    we can substitute the P with $300,

    substitute the r with 7.5%,

    and substitute the n with 5.

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