Nthe situation, simple interest is calculated yearly. how much interest was earned? drag and drop the answer into the box.
principal: $5500; time: 8 years; interest rate: 2.5%; interest: ?

- Interest was earned=$1,100

Explanation:-

Given: Principal P, =$5,500

Time t= 8 years

Interest rate r=2.5%   [convert into decimal]

We know that,

Simple Interest=P×r×t

⇒Simple Interest=$5,500×0.025×8 [Substitute the value of P,r ant t]

⇒Simple Interest=$1,100

Therefore, Interest was earned=$1,100.

answer: sine

step-by-step explanation: