Question

Ian deposits $700 into an account that earns 6% interest per year.
How much interest is earned in five years?
What is the total amount after 5 years?

Answer 1

Answer:

thank you my lovely guys

Answer 2

Principal=$700
Rate of interest=6%
Time=5 years
Simple interest=PxRxT/100
=700x6x5/100
=$210

Amount =principal+simple interest
=$700+$210
=$910

Therefore, Simple interest=$210
Amount=$910


I hope it might help you.