TomaszW722323 TomaszW722323

03-11-2022
Mathematics

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How much interest is earned on an initial investment of $700 with a 5% annual rate for 2 years? A $700B $350C $70D $35

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CaoimheV589459 CaoimheV589459

03-11-2022

Let's calculate the 5% of $700 using a rule of three:

This way,

[tex]\begin{gathered} x=\frac{700\cdot5}{100} \\ \Rightarrow x=35 \end{gathered}[/tex]

$35 is earned each year, For two years, the earnings would be $70

Answer: C. $70

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