Question

Bob deposits $2480 into a savings account at 3% interest. At the end of four years how much simple interest does he earn?

$7440
$297.60
$74.40
$360

Answer 1

Ok here’s the equation you can run on the next one
A=P(1+rt) A is total P is current amount or starting amount r is annual interest and t is the amount of time
Your answer is
$297.60