what would be the yearly earnings for a person with $13,000 in savings at an annual interest rate of 2.5…
what would be the yearly earnings for a person with $13,000 in savings at an annual interest rate of 2.5 percent? yearly earnings
Answer
Explanation:
Step1: Convert percentage to decimal
$2.5%=0.025$
Step2: Calculate yearly earnings
Yearly earnings = Principal × Interest rate. So, $13000\times0.025 = 325$
Answer:
$325$