tstewart4750 tstewart4750
  • 10-12-2020
  • Mathematics
contestada

What is the interest earned on a $1200 deposit with a 6.5% interest rate for 3 years?

Respuesta :

9417870
9417870 9417870
  • 10-12-2020

Answer:

$234

Step-by-step explanation:

P is the principal amount, $1200.00.

r is the interest rate, 6.5% per year, or in decimal form, 6.5/100=0.065.

t is the time involved, 3....year(s) time periods.

So, t is 3....year time periods.

To find the simple interest, we multiply 1200 × 0.065 × 3 to get that:

:) hope this helps

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