You deposit $70 in a savings account that pays an annual interest rate of 3%. How much simple interest would you earn in 2.5 years?

Mike Causer asked Jul 18, 2023

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24 votes

You deposit $70 in a savings account that pays an annual interest rate

of 3%. How much simple interest would you earn in 2.5 years?

Mike Causer asked Jul 18, 2023

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22 votes

i think it would be 5.25 because if you multiply the 70$ times the 3% which is 0.03 you get 2.1 and then you multiply the 2.1x2.5

BoSkiv answered Jul 23, 2023

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