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Donna deposits #$800# into an account that pays simple interest at a rate of #2%# per year. How much interest will she be paid in the first #5# years?

Answer 1

Avery Alexander

Donna will be paid #$80# as interest.

#SI=(PxxRxxT)/100#

Using the simple interest formula, we obtain:

#SI=(800xx2xx5)/100#

#SI=(8cancel(00)xx2xx5)/(1cancel(00))#

#SI=8xx2xx5#

#SI=80#

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Answer 2

Avery Alexander

To calculate the interest earned, you can use the formula:

Interest = Principal × Rate × Time

Substituting the given values:

Interest = $800 × 0.02 × 5 =$ 80

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Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.