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What is the total amount on an investment account of $450 at an annual simple interest rate of 3% at the end of 48 months?
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What is the total amount on an investment account of $450 at an

annual simple interest rate of 3% at the end of 48 months?

User Drakarah
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1 Answer

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The equation for simple interest is I = PRT. I = interest earned, P = principal/money invested, R = rate as a decimal, T = time in years.

I = (450)(0.03)(4)
I = 54

$54 is your answer
User Sylvanaar
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