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Derrick has $3500 in a savings account that earns 12% annually. If the interest is not compounded, How much interest will he earn in 3 years?

Derrick has $3500 in a savings account that earns 12% annually. If the interest is not compounded, How much interest will he earn in 3 years?
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2 votes
Derrick has $3500 in a savings account that earns 12% annually. If the interest is not compounded, How much interest will he earn in 3 years?

User Christhofer Natalius
by
8.0k points

2 Answers

5 votes
3500 x 3 x 0.12 = 1260

answer
interest he will earn in 3 years $1,260
User Aakash Anuj
by
8.6k points
2 votes
(3500*12%)*3=1260 I hope I helped
User Chris Wingler
by
7.9k points
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