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Popular Word Problems >

Shelia deposited 800 into an account that earned 3% simple interest. She did not make any other deposits or withdrawals. After 5 years, how much interest did Sheila earn?

Solución

S h e l ia d e p os i t e d 800 in t o an a cco u n t t ha t e a r n e d 3% s im pl e in t eres t . S h e d i d n o t mak e an y o t h er d e p os i t s or w i t h d r a w a l s . A f t er 5 ye a rs, h o w m u c h in t eres t d i d S h e i l a e a r n ?

Solución

Interest : 120

Pasos de solución

Translate the problem into an equation:

I = 800 \cdot 0.03 \cdot 5

Simplificar

I = 800 \cdot 0.03 \cdot 5

Interest : 120

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