Respuesta :

amanuelamareshiferaw

Answer:

  • in 1year =4.25%
  • in 5year=x
  • then
  • 1=4.25%
  • 5=x then cross
  • x=4.25%*5=21.25%

Answer:

$765

Step-by-step explanation:

If an amount of money, P, called the principal, is invested for a period of t years at an annual interest rate r, the amount of interest, I, earned is given by

I =Prt           where

I =interest

P =principal

r =rate

t =time

The following information is given.

Prt=$3,600=4.25%=5 years

Substituting the given information into the simple interest formula and solving for I gives

I =Prt

I =(3,600)(0.0425)(5)

=765

The amount of interest Kelsey earned in 5 years was $765.

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