Question

Check

Curtis deposits $550 into a savings account. The account pays 175%
simple interest on an annual basis. If he does not add or withdraw
money from the account, how much interest will he earn after
3 years?

Answer 1

If it is 175% the answer is $2,887.50. If it is 1.75% simple interest, Curtis will earn $9.63

Answer 2

2,887.50

Explanation:

First changing percent to decimal 175% - 1.75

I = 550 × 1.75 × 3 = 2,887.50