Question

Your savings account has a balance of 3,500. what interest would you earn in 2 years at 3% simple interest?

Answer 1

210

Explanation:

3,500 × 3% × 2 years

Convert the 3% into a decimal

3% = 0.03

3,500 × 0.03 = 105

105 × 2 = $210

Answer 2

SI=P*T*R/100

=3500*2*3/100

=210