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25-03-2020
Mathematics

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Find the simple interest earned if you invest $545 in a sabvings account that earns 3.25% for two years

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zrh2sfo zrh2sfo

25-03-2020

Answer:

Year Year Interest Total Interest Balance

1 $17.71 $17.71 $562.71

2 $18.29 $36.00 $581.00

Step-by-step explanation:

Base amount: $545.00

Interest Rate: 3.25% (yearly)

Effective Annual Rate: 3.25%

Calculation period: 2 years

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