Question

Ilsa withdraws $300 from an account that had a balance of $1,000. How much interest will she earn on the remaining balance at a simple annual interest rate of 1.8% over 3 years?

Answer 1

37.8

Explanation:

1000 - 300 = 700

I = Prt

I = (700)(1.8%)(3)

I = 37.8