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Find the amount of simple interest earned in one year on an account that has an interest rate of 3.2 and a principal of $250

Find the amount of simple interest earned in one year on an account that has an interest rate of 3.2 and a principal of $250
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Find the amount of simple interest earned in one year on an account that has an interest rate of 3.2 and a principal of $250

User Demosthenes
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1 Answer

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y=0.032(250)(1)+250
y=8+250
y=258

You earn $258 in one year.
User Mike Critchley
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8.1k points
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