Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Edward deposited $8,500 into a savings account 5 years ago. The simple interest rate is 3%. How
much money did Edward earn in interest?

Sagot :

Answer:

1275

Step-by-step explanation:Step-by-step explanation:

For us to get the Simple interest, we have to use the formula:

= PRT

= Principal × Rate × Time

= $8500 × 5% × 3

= $8500 × 5/100 × 3

= $8500 × 0.05 × 3

= $1275

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.