seyramhlover seyramhlover
  • 16-10-2018
  • Mathematics
contestada

Ben deposited 15000 in the bank for 12 months at 15% annually how much interest did he get?

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jdoe0001 jdoe0001
  • 16-10-2018

assuming is simple interest, well, 12 months is 1 year, so


[tex]\bf ~~~~~~ \textit{Simple Interest Earned}\\\\I = Prt\qquad\begin{cases}I=\textit{interest earned}\\P=\textit{original amount deposited}\dotfill & \$15000\\r=rate\to 15\%\to \frac{15}{100}\dotfill &0.15\\t=years\dotfill &1\end{cases}\\\\\\I=(15000)(0.15)(1)\implies I=2250[/tex]

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