Lisa Deposited $500 in a Savings Account This Morning

question 170

Multiple Choice

Lisa deposited $500 in a savings account this morning. The account pays 2.5% simple interest. If Lisa leaves this money in the account for five years, how much total interest will she earn?

• A) $10.75
• B) $12.50
• C) $53.75
• D) $62.50
• E) $67.25

---

Definitions:

Financial Systems

Complex systems comprising various institutions, such as banks and markets, that together facilitate the flow of money and investments within an economy.

Real-World Applications

Practical uses or implementations of theories, concepts, or technologies in everyday life or specific industries.

Cross-Departmental Processes

Activities and workflows that involve collaboration and interaction between different departments or units within an organization.

Cloud-Based ERP

Enterprise Resource Planning systems that are hosted on a vendor's cloud platform rather than an organization’s own servers, facilitating access from anywhere via the Internet.