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  • 5 years ago

if you start out with $1000 and you earn simple interest at 2% per year how much interest will you earn over a ten year period, and how much money amount would you earn at the end of ten years?

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  1. anonymous
    • 5 years ago
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    Simple Interest = Principal x Rate as a decimal x time Principal: $1000 Rate: 2% or 0.02 as a decimal (per year) Time: 10 years I = 1000 x 0.02 x 10 = 200 (this is the interest you earned). Then, add that to the principal to find the total money amount which is 200 + 1000 = $1200.

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