joannechance joannechance
  • 10-05-2020
  • Mathematics
contestada

Henry invests $15258 in an account that pays 7.9% interest for 5 years. How much simple interest will her earn

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sqdancefan
sqdancefan sqdancefan
  • 10-05-2020

Answer:

  $6026.91

Step-by-step explanation:

The formula for computing simple interest is ...

  I = Prt

where P is the principal invested, r is the annual interest rate, and t is the number of years. For the given information, the interest is ...

  I = $15258·0.079·5 = $6026.91

Henry's account will ear $6026.91 in interest.

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