Asked by Kate

spencer deposit 540 in a bank account that pays annual simple interest rate of 4.5%. How much interest will he earn after 3 years?

a.about $73.00
b.about $7,290.00
c about $126.00 <-- im not sure
d.about $200.00

How do I figure this out?
Answered by Ms. Sue
c is not right.

Interest = principle times rate times time

I = 540 * 0.045 * 3

Answered by bobpursley
put this in your google search engine:

540( 1.045)^3 -540=
Answered by Damon
about 73
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