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Calculate the interest would I earn on $500 at 6% simple interest if you made no withdrawals or deposits for three years

Calculate the interest would I earn on $500 at 6% simple interest if you made no withdrawals or deposits for three years
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1 vote
calculate the interest would I earn on $500 at 6% simple interest if you made no withdrawals or deposits for three years

User Noah Borg
by
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1 Answer

7 votes
I = PRT
I = 500(0.06)(3)
I = 30(3)
I = $90
I = Interest P = Principle R = Rate Of Interest T = Time (Years)
You will earn $90 in simple interest.
User SilverHorn
by
8.7k points
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