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19 July, 16:19

Jamie has $500 to invest for 3 years. She finds a bank that will invest her money at a simple interest rate of 5%. Interest is T is equal to the principle P times the product of the rate r as a decimal and the time d in years.

Find the amount of interest earned after 3 years.

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  1. 19 July, 16:28
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    15% = 0.05

    $500 * 0.05 * 3 = $75

    answer: amount of interest earned after 3 years is $75
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