Question

Manuel deposited $15,000 in an account that earns 4.25% simple interest.

- He did not make additional deposits; he did not make withdrawals.

-How much interest will Manuel have earned on his investment at the end of 3 years.

Answer 1

he would have earned 6,375 or 19,125 or 4,125

Answer 2

$1912.50

Explanation:

`interest = (prt)/(100) \\ = ((15000)(4.25)(3))/(100) \\ = 1912.50`