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If you invest $1600 at 5% for 3 years, how much simple interest is earned? ***Look at your formula chart for the interest formula!!*** FOR 25 POINTS

If you invest $1600 at 5% for 3 years, how much simple interest is earned? ***Look at your formula chart for the interest formula!!*** FOR 25 POINTS
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If you invest $1600 at 5% for 3 years, how much simple interest is earned? ***Look at your formula chart for the interest formula!!***

FOR 25 POINTS

User Shaquawna
by
7.6k points

1 Answer

2 votes

Answer:

$240

Explanation:


1600 * .05 * 3 = 240

User Laurance
by
8.2k points
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