Henesismendez21 Henesismendez21

20-10-2017
Geography

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what is the intrest on $1000 invested for 3 years in an account that earns simple intrest at an annual rate of 2%

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mmdkwaj mmdkwaj

20-10-2017

$60 in interest:

For simple interest, remember "I = p • r • t"

I = Interest
P = Principal (amount put in)
R = Rate of Interest
T = Time

So, I = 1000 • 0.02 • 3

Hope this helped!

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