joshwalker6608 joshwalker6608

16-02-2021
Mathematics

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Suppose $ 1,250 is placed in a savings account over 2 years. Find the interest earned if the rate is 4.5%

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topeadeniran2 topeadeniran2

17-02-2021

Answer: $112.50

Step-by-step explanation:

The Simple interest will be calculated using:

= Principal × Rate × Time

= 1250 × 4.5% × 2

= 1250 × 0.045 × 2

= $112.50

Therefore, the interest earned will be $112.50

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