Blanche invested $9800 in a savings account with a yearly interest rate of 2% for 15 years. How much simple interest did she earn?
I=prt
I=9800*.02*15=$2,940
Po = $9800, r = 0.02, t = 15yrs.
I = Po*r*t
To calculate the simple interest earned by Blanche, you need to use the formula: Interest = Principal × Rate × Time.
In this case, the principal (initial investment) is $9800, the interest rate is 2% (or 0.02), and the time is 15 years.
Now you can plug these values into the formula and calculate the simple interest earned:
Interest = $9800 × 0.02 × 15
Interest = $2940
Therefore, Blanche earned $2940 in simple interest.