Question

you invest $1500 for three years. find the amount of simple intrest you earn at an annual rate of 8.25%

Answer 1

371.25

Explanation:

interest = principal x rate (expressed as a decimal, annual) x time (years)

our principal is 1500, and 8.25% as a decimal is 0.0825, and then its 3 years, multiply that all up and that equals 371.25

Answer 2

simple interest=371.25

Explanation:

1500×8.25%×3

=123.75×3

=371.25