teniolaiyande teniolaiyande

05-03-2020
Mathematics

contestada

you deposit $1600 in an account. The annual interest rate is 5% for 3 years. How much
interest will you earn on the money?

Respuesta :

tolaosunrinde tolaosunrinde

05-03-2020

Answer: $240

Step-by-step explanation:

Simple interest= Principal x Rate x Time

Where P= 1600, R= 5% = 0.05, T=3

= 1600 x 0.05 x 3

$240

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