Question

we deposit $2,400 in an account that pays 4% per year, find the mount of simple interest earned during the 3 years period.

Answer 1

288 dollars interest

Explanation:

Answer 2

Explanation:

Simple interest = principle * rate * time

= $ 2400 * .04 * 3 = 288 dollars interest

(Note that 4 percent is .04 in decimal)