Pam deposited $890 in a savings account, with three percent simple interest. How much interest will she earn in five years?

1.) 26.70

2.) 133.50

3.) 103.30

4.) 96.33

Question

Pruitt

Mathematics

9 October, 20:20

Pam deposited $890 in a savings account, with three percent simple interest. How much interest will she earn in five years?

1.) 26.70

2.) 133.50

3.) 103.30

4.) 96.33

+4

Answers (1)

Know the Answer?

Kamren Marshall · Answer 1

The answer is option 2. Pam will earn an interest of $133.50 from his savings account of $890 with an interest of 3%. Simple interest, also known as flat rate interest, is an interest to be paid or earned each year having a fixed percentage from a principal amount. It is calculated as follows:

$890 x. 03 x 5 = $133.50

Pam deposited $890 in a savings account, with three percent simple interest. How much interest will she earn in five years?1.) 26.702.) 133.503.) 103.304.) 96.33

Pam deposited $890 in a savings account, with three percent simple interest. How much interest will she earn in five years?

1.) 26.70

2.) 133.50

3.) 103.30

4.) 96.33