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Leonard makes a $3000 deposit for 15 years at a simple interest rate of 3%. What is the amount of interest earned?
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Leonard makes a $3000 deposit for 15 years at a simple interest rate of 3%. What is the amount of interest earned?

User Rctneil
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2 Answers

3 votes

Answer:

Options?

Explanation:

User Chris Peckham
by
7.2k points
2 votes

Answer:

1350

Explanation:

The formula says

Interest earned=deposited amount ×interest rate × time

Interest earned=3,000×0.03×15=1350

User Daman Arora
by
8.2k points
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