Answered

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Marsha deposited $5,000 into a savings account 3 years ago. The simple interest rate is 4%. How much money did Marsha earn in​ interest?

Sagot :

Answer:

Amount of interest = $600

Step-by-step explanation:

Given:

Deposited p = $5,000

Number of year n = 3

Interest rate r = 4% = 0.04

Find:

Amount of interest

Computation:

Amount of interest = P(r)(n)

Amount of interest = 5,000 x 3 x 0.04

Amount of interest = $600

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