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Pete and Teegan each put the same amount of money in a new bank account. Teegan's account earns 2.75% simple interest, and she earned $2.20 in interest after one year. Pete's account earns 5% simple interest. How much interest did Pete's account earn after one year?

Respuesta :

SterlingSims

Answer:

$4

Step-by-step explanation:

Let us assume that Pete and Teegan each put an amount of $P in a new bank account.

Teegan's account earns 2.75% simple interest and she earned $2.20 in interest after one year.

P = $80

Now, this $80 in Pete's account earns 5% simple interest.

Then after one year Pete will earn as interest  80x5/100 = 4 Dollars.

Therefore your answer is $4.

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