Drag each tile to the correct box. Not all tiles will be used.
Calculate the interest earned on each simple-interest account given the original principal, annual interest rate, and length of time th
was held. Match each amount to the corresponding account description.
$91.52
$94.50
$92.40
$82.35
$92.63
$94.71
$880 at 5.25% for 2 years
$675 at 3.5% for 4 years
$770 at 4.19 for 3 years

Simple interest is used to determine the interest on loans

The formula to calculate simple interest is:

Where

(a) $880 at 5.25% for 2 years

The simple interest is:

Hence, the simple interest is $92.40

(b) $675 at 3.5% for 4 years

The simple interest is:

Hence, the simple interest is $94.50

(c) $770 at 4.19 for 3 years

The simple interest is:

Hence, the simple interest is $92.40

Read more about simple interest at:

link

P=$880,I=$92.40

P=$675,I=$94.50

P=$770,I=$96.79

Step-by-step explanation:

Simple interest rate is the interest eared on principal amount only over time:

#$880 at 5.25% for 2 years

Hence, the interest earned is $92.40

#$675 at 3.5% for 4 years:

Hence, the interest earned is $94.50

#$770 at 4.19 for 3 years:

Hence, the interest earned is $96.79

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