Question

Brett deposited $150.00 in an account that paid 3% simple interest. How much interest did Brett earn in 5 years?

A.
$4.50

B.
$7.50

C.
$15.00

D.
$22.50

Answer 1

Brett deposited $150.00 in an account that paid 3% simple interest. the interest brett earn in 5 years :
simple interest = Pricipal x interest rate x number of years
= 150 x 0.03 x 5
= $ 22.50

hope this help