Sergio dropped his new freestyle mixtape and invested $12,000 of his

earnings into a savings account that earns him 2.5% simple interest. How

much interest will he have earned at the end of 5 years? *

A$1,800

B$1,500

C$1,200

D$150

Question

Mathematics

Riley Sloan

17 January, 12:31

Sergio dropped his new freestyle mixtape and invested $12,000 of his

earnings into a savings account that earns him 2.5% simple interest. How

much interest will he have earned at the end of 5 years? *

A$1,800

B$1,500

C$1,200

D$150

+4

Answers (1)

Know the Answer?

Nigel Farmer · Answer 1

B $1,500

Step-by-step explanation:

Interest is computed using the formula ...

I = Prt

where P is the principal invested, r is the annual rate, and t is the number of years.

Using your numbers, we can find the interest as ...

I = $12,000*0.025*5 = $1,500

Sergio will have earned $1,500 in interest in 5 years.

Sergio dropped his new freestyle mixtape and invested $12,000 of hisearnings into a savings account that earns him 2.5% simple interest. Howmuch interest will he have earned at the end of 5 years? *A$1,800B$1,500C$1,200D$150

Sergio dropped his new freestyle mixtape and invested $12,000 of his

earnings into a savings account that earns him 2.5% simple interest. How

much interest will he have earned at the end of 5 years? *

A$1,800

B$1,500

C$1,200

D$150