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 values for I = PRT

Principal \( P = 2500 \), Rate \( R = 21\% = 0.21 \), Time \( T = 2 \).

Step2: Substitute into formula

\( I = 2500 \times 0.21 \times 2 \)
Calculate \( 2500 \times 0.21 = 525 \), then \( 525 \times 2 = 1050 \).

Answer:

\( 1050 \)