Interest earned: ? principal: $1250 interest rate: 3% time: 4 years

asked Aug 19, 2019 137k views

4 votes

Interest earned: ?
principal: $1250
interest rate: 3%
time: 4 years

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6 votes

Interest
I = prt
I = (1250)(0.03)(4)
I = $150.00

Compound interest
FV = PV (1+r) ^ t
FV = 1250 (1+0.03)^4
FV = $1406.89

Quinn Strahl answered Aug 21, 2019

9.0k points

5 votes

I = P * r * t
I = 1250 * 0.03 * 4
I = $150

Therefore $150 interest was earned

Carmelia answered Aug 25, 2019

8.3k points

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