Respuesta :
Given, deposited amount in a bank account = $2500.
Rate of interest given = 3.6%.
We have to find the simple interest for 5 years.
The formula to find the simple interest is
Simple interest = [tex] \frac{Prt}{100} [/tex]
Where, P = principal amount, r = rate of interest and t = number of years.
Here given, P= $2500, r = 3.6%, t = 5 years.
Now we by substituting the values in the formula. We will get,
Simple interest = [tex] \frac{(2500)(3.6)(5)}{100} [/tex]
= [tex] \frac{(9000)(5)}{100} [/tex]
= [tex] \frac{45000}{100} [/tex]
= [tex] 450 [/tex]
We have got the required answer. The required simple interest is $450.
