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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
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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.

User Scott Radcliff
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8.1k points

2 Answers

4 votes
he would have earned 6,375 or 19,125 or 4,125
User LeleMarieC
by
8.0k points
2 votes

Answer:

$1912.50

Explanation:


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

User Moritz Friedrich
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8.3k points
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