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Suppose you earn 3% on a $1,200 deposit for 5 years. How is the interest affected if the rate or the time is increased. Explain. EXPLAIN!!!

Suppose you earn 3% on a $1,200 deposit for 5 years. How is the interest affected if the rate or the time is increased. Explain. EXPLAIN!!!
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Suppose you earn 3% on a $1,200 deposit for 5 years. How is the interest affected if the rate or the time is increased. Explain.

EXPLAIN!!!

User Janw
by
7.3k points

1 Answer

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As time increases, interest increases as well
User Thomas Cirksena
by
8.8k points
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