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7 April, 12:34

Andrea deposited $300 in a savings account that pays 3% simple annual interest. How much interest will Andrea earn at the end of 3 years?

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Answers (2)
  1. 7 April, 12:36
    0
    Do 300 * 0.03 * 3 which equals 27 dollars
  2. 7 April, 13:03
    0
    I=PRT

    P=present amount

    I=interest

    R=rate in decimal

    T=time in years

    I=300*0.03*3

    I=3*3*3

    I=27

    earns $27 in simple interest
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