Question

kelly deposited $2,500 into a savings account with a 21% simple interest rate. after 2 years how much interest did kelly earn? hint: i = prt

Explanation:

Step1: Identify the values of P, R, and T

P = 2500 (principal amount), R = 0.21 (21% expressed as a decimal), T = 2 (number of years)

Step2: Apply the simple - interest formula

I=PRT = 2500×0.21×2
I = 2500×0.42
I = 1050

Answer:

1050