On a deposit of $50 at a simple interest rate of 9%, how much interest will you earn after 12 vears? Question On a deposit of $50 at a simple interest rate of 9%, how much interest will you earn after 12 vears? in progress 0 Math Mary 1 week 2021-09-15T02:49:56+00:00 2021-09-15T02:49:56+00:00 1 Answer 0

## Answers ( )

Answer: Interest after 12years is $54

Step-by-step explanation:

Simple interest (I) is calculated by Principal x Rate x Time

From the question given, Principal= $50; Rate = 9% = 9/100 = 0.09

Time= 12years

Slot the values into the formula

I =$50 x 0.09 x 12

I =$54

I hope this is clear, do have a great day!