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1 point 13. Ariana Grande put $400 into a savings account that earns 1.5% simple interest each year. After 5 years, how much interest will she earn?

Respuesta :

We know that she put a principal of $400, the interest rate is 1.5% each year, and the time is 5 years. Using the simple interest formula, we have

[tex]\begin{gathered} I=P\times r\times t \\ I=400\times0.015\times5=30 \end{gathered}[/tex]

Hence, she will earn $30.

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