If your bank offered you 3% interest on $5,000 in your savings account, how much money would you have in your account at the end of the year after interest?

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asked Nov 25, 2022 60.3k views

1 vote

If your bank offered you 3% interest on $5,000 in your savings account, how much money would you have in your account at the end of the year after interest?

Mathematics
college

Mschwarz asked

by Mschwarz

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1 Answer

5 votes

Answer:

$150

Step-by-step explanation:

The formula we'll use for this is the simple interest formula, or: I= p * r * t

Fool answered Nov 30, 2022

by Fool

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