tanvule80
contestada

Please help, and explain, I don't understand!! You put $1000 into an investment yielding 6% annual interest; you left the
money in for two years. How much interest do you get at the end of those
two years?

Respuesta :

sandlerian

Answer:

$120 in interest

Step-by-step explanation:

The formula for finding how much interest you get over time is this :

Principal × Rate × Time = Interest you get at the end

Principal is how much you start out with, so in this case that's $1,000.

Rate is the percent annual interest, which in this case is 6%.

Last, time, time in this case is 2 years.

I = (1000)(0.06)(2) = 120

I will get $120 in interest.

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