00:01
In this problem, we're being asked to complete the table.
00:03
Well, we're given information about two different accounts, account one and account two, and in both cases, we're being asked to find the interest earned.
00:11
Well, if you know this at the top of the table, which i rewrote at the top of my screen, to find the interest, we simply need to multiply the principle by the rate times the time.
00:21
So let's start with account one.
00:23
Well, we're told that the principal is 2 ,500, the rate is 5%, and the time is 2 years.
00:29
So we simply need to plug these values into our formula.
00:33
Now, the only thing we have to be careful of is for our rate.
00:36
We can't substitute in 5%.
00:38
We need 5 % to be written as a decimal, which remember means we need to move our decimal two places to the left...