Jonathan puts $400 in a bank account. each year the account earns 6% simple interest. how much interest will be earned in 5 years?
a. $1,200
b. $12
c. $12,000
d. $120
Step-by-step explanation: The correct answer is $120. You would multiply the amount of money by the interest rate by the number of years. So we have I = 400·0.06·5 which is $120.
