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.)

$360

$3,003.04

$3,360

$120

Question

26 March, 10:08

+2

Answers (1)

Know the Answer?

Gary Cobb · Answer 1

As given in the hint i = prt i = 3000 x 0.04 x 3 i = 360 So, the interest amount after 3 years will be $360

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.)$360$3,003.04$3,360$120