BluSeaa BluSeaa

27-05-2020
Mathematics

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Correct answers only please!

Justin has $20 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 2 years?

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.

Correct answers only please Justin has 20 in a savings account The interest rate is 5 per year and is not compounded How much interest will he earn in 2 years U class=

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TheLazyNobita TheLazyNobita

27-05-2020

Step-by-step explanation:

Using the given formula

I = P × R × t

I = 20 × 5/100 × 2

I = $2

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