Find the simple interest earned after 2 years on an investment of $3000 at 4.5% interest earned annually. A. 270 B. $135 C. $3000 D. $4.5

asked Aug 16, 2024 113k views

1 vote

Find the simple interest earned after 2 years on an investment of $3000 at 4.5% interest earned annually.

A. 270

B. $135

C. $3000

D. $4.5

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5 votes

Answer:

A) 270

Explanation:

Interest = principle x time x rate

Interest = 3000 x 2 x .045 4.5% = .045 as a decimal

Interest = 270

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