Question

What is the interest earned on $3,000 at a rate of 0.04 for 3 years? (Hint: Use the formula i = prt, where i represents the interest earned, p represents the principal, r represents the rate, and t represents the time.)

$3,003.04
$3,360
$360
$120

Answer 1

3,360

Explanation:

3000(.04)(3)

3000 x. 04=12000

12000 x 3,360