Answered

An account earns simple interest.


$1500 at 4% for 5 years

AFind the interest earned.

(I thought it was $1832.10, but it says it is wrong)

BFind the balance of the account.

(says $2332.10 is wrong)




HELP ME!!!!!

Verified Answer :

the interest earned is what was made, not what was made + the original...idk for sure if this is correct, but, the interest earned is 243.97, and the new balance is 1743.97


Simple interest = P R T / 100
I = 1500 4 5 /100
I = 30000 /100
I = 300

In short, Interest amount would be $300

2) Balance = Previous balance + Interest amount
b = 1500 + 300 = 1800


Hope this helps!

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