Question

How much interest will Tamara earn on her investment at the end of 3 years?

Answer 1

Given:

Principal amount, P = $15000

Interest rate, R = 4%

Time, T = 3 years

To find the interest Tamara will earn on her investment, use the simple interest formula below:

`\text{Interest = }(P* R* T)/(100)`

Thus, we have:

`\begin{gathered} \text{Interest = }(15000*4*3)/(100) \\ \\ \text{Interest = }(180000)/(100) \\ \\ \text{Interest = 1800} \end{gathered}`

Therefore, Tamara will earn an interest of $1,800 at the end of 3 years

ANSWER:

B. $1,800