Susan has $800 in a savings account that earns 6% simple interest annually. How much interest will she earn in 5 years?
We can use the formula for simple interest:
Interest (I) = Principle (P) x Rate (R) x Time (T)
Where:
P = $800
R = 6%, which can be written as 0.06 in decimal form
T = 5 years
Now we can plug in the given values and solve for I:
I = $800 x 0.06 x 5
I = $240
Therefore, Susan will earn $240 in interest over a period of 5 years.