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Answered

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if you deposit $3000 in a savings account that earns simple interest at the rate of 2.5% per year, how much interest will you have earned after 4 years?

Sagot :

SlowZasob
Firstly we need to find out what's 2.5% from $3000:

3000 * 2.5% =
= 3000 * 2.5/100 =
= 3000 * 25/1000 =
= 3 * 25 =
= 75 [dollars]

It means you will earn $75 dollars of interest annualy. After 4 years you will earn:

4 * $75 = $300
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