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Jaycee Alvarez deposits $300 in a savings account at City Bank. The account pays an APR of 5%. She makes no other deposits or withdrawals. After three months, how much simple interest does her money earn?
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Jaycee Alvarez deposits $300 in a savings account at City Bank. The account pays an APR of 5%. She makes no other deposits or withdrawals. After three months, how much simple interest does her money earn?

User Vhuynh
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2 Answers

5 votes
I would hate to be a banker I would lose "interest " to quickly and for the question I believe it would be 15$ to get to this answer just multiply the 300$ by .05 which is the 5 percent and that gets you to 15
User Heartyporridge
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7.9k points
5 votes
It wouldn’t be 15. Hope that helps
User Mowshon
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