Question

José put $1,500 into a savings account. He earns 3% interest every year. How much simple interest will he earn at the end of 3 years?

Answer 1

He would have a total of: $1639.09

In intrest alone he would've made 1639.09

Explanation:

3%= 0.03

• The first thing you do is multiply $1,500 by the %3 (0.03).

• When your done multiplying, you should get 45.

• Add 45 to 1500

• Now you have 1545

• Then you repeat the process over, two more times. However the numbers will change.