Register
Michael invest $600 in an account with a 3% interest simple interest rate. The account is open for 10 years. How much interest did he earn after 10 years? A: $150 B: 180 C: 18000 D: 1800
162k views
4 votes
Michael invest $600 in an account with a 3% interest simple interest rate. The account is open for 10 years. How much interest did he earn after 10 years?

A: $150
B: 180
C: 18000
D: 1800

User Sayhan
by
5.5k points

1 Answer

4 votes

Answer:

$180

Explanation:

Interest = Principal * rate * time

= 600 * .03 * 10

= 180

Principal + Interest = Total value

$600 + $180 = $780

User Semajhan
by
4.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.4m questions

7.0m answers

Other Questions

Solve x2 + 6x – 9 = 7 by completing the square. SHOW ALL WORK (the answer is x=2,-8 but i need the work)
What is 3,897.003 in expanded form
8. The metric unit used to measure the distance from your home to your workplace is the
The stem-and-leaf plot shows the number of people who used each run of the Red Line train. What is the range of the data? https://clackamasweb.owschools.com/media/g_mat08_ccss_2016/9/img_graph_stemandleaf.
If output per worker is now nearly $120,000 per year, how much will the average worker produce 5 years from now if productivity improves by (use the compounding formula below to answer the question): fv1
Link Copied!