Question

andera deposited 300$ in savings account that pays 3% simple annual interest,How much interest will andera earn at the end of three years

Answer 1

Answer: $27

Explanation:

First you need to find 3% of 300 in order to find the annual interest.

3% = 0.03

300 * 0.03 = 9

The annual interest is $9. Now you need to multiply that by 3 to find the interest in 3 years.

9 * 3 = 27

The interest for 3 years is $27.

Answer 2

27

Explanation:

Simple interest is given by

I = Prt where I is the interest, P is the principle, r is the rate and t is the time

I = 300 * .03 * 3

I =27

27 dollars is made in interest