An account earns simple interest.
$1500 at 4% for 5 years.
1. find the interest earned.
2. find the balance of the account.

Data:
P (Principal) = $1500
I (Simple Interest) = ?
t (time) = 5 years 
r (percentage rate) = 4% = 0.04

Formula:


Solving (1) Find the interest earned.




Solution (2) Find the balance of the account.
The future value, (Account), of a loan is given by the equation: A = P + I

Letter b sorry i’m i’m wrong xx