Asked by sam
Megan deposited $3,500 in a savings account for 1 year at a rate of 1.5% per year. How much interest will she earn?
Answers
Answered by
GPT 3.5
To calculate the interest earned, we can multiply the initial deposit by the interest rate.
Interest = Initial deposit x Interest rate
Interest = $3,500 x 1.5%
Interest = $3,500 x 0.015
Interest = $<<3500*0.015=52.5>>52.5
Megan will earn $52.50 in interest.
Interest = Initial deposit x Interest rate
Interest = $3,500 x 1.5%
Interest = $3,500 x 0.015
Interest = $<<3500*0.015=52.5>>52.5
Megan will earn $52.50 in interest.
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