Marsha deposited ​$7,000 into a savings account years ago. The simple interest rate is ​4%. How much money did Marsha earn in​ interest?
interest= $___ · ___ · ___x years.

Answer:

280$ per year

Step-by-step explanation:

The interest earn by Marsha is $280 a year and interest = $280x for x years.

Simple interest is a quick and simple approach to figure out how much money has accrued interest. Interest is always applied to the original principal amount and is calculated at the same rate for each period of time. Any bank where we deposit money will pay us interest on that amount.

Given amount deposited = principal = $7,000

rate = 4%

simple interest = PRT/100

where p = principal, T = time, R = Rate

Interest for 1 year  = PRT/100 = (7000 x 4 x 1)/100

Interest for 1 year  = 28000/100

Interest for 1 year = $280

and interest for x years =  $280x

Hence $280x is interest for x years.

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