Ask Question
12 February, 12:00

Edin has £300 pounds in his saving account. His bank offers him a simple 5% interest rate per annum, for a period of three years. How much interest will he have earned in 3 years?

+1
Answers (1)
  1. 12 February, 12:26
    0
    Hi there

    The simple interest formula is

    I=p*r*t

    I interest earned?

    P principle 300

    R interest rate 0.05

    T time 3years

    So

    I=300*0.05*3

    I=45

    interest will he have earned in 3 years is 45

    Good luck!
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Edin has £300 pounds in his saving account. His bank offers him a simple 5% interest rate per annum, for a period of three years. How much ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers