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Compute the amount of interest earned in the following simple interest problem. A deposit of 4,500 at 5% for 3 years

Compute the amount of interest earned in the following simple interest problem. A deposit of 4,500 at 5% for 3 years
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Compute the amount of interest earned in the following simple interest problem. A deposit of 4,500 at 5% for 3 years

User Jakehurst
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1 Answer

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4,500 x .05 = 4275
4,275 x .05 = 4061.25
4,061.25 x .05 = 3858.1875
answer is 3,858.18
User Wasi
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7.8k points
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