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david has $245 in an account that earns 3% simple interest per year. how much interest will he earn in 4 years
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david has $245 in an account that earns 3% simple interest per year. how much interest will he earn in 4 years

User Siva Kranthi Kumar
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1 Answer

5 votes
Answer : $27.40

Work:

3%=0.03
Multiply 0.03 by 4 years and you get 0.12
Next, multiply $245 by 0.12 and then divide by 100% (100) and the answer would be 27.40 interest
User Roberto Canogar
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