Question
Ian placed $3000 in a one-year CD at the bank. The bank is paying simple interest of 2.5 % for one year on the CD. How much interest will Ian earn in one year?
Question content area bottom
Ian will earn $
enter your response here in interest in one year
Question content area bottom
Ian will earn $
enter your response here in interest in one year
Answers
GPT 3.5
Ian will earn $75 in interest in one year.
Calculation:
Interest = Principal x Rate
Interest = $3000 x 0.025
Interest = $75
Calculation:
Interest = Principal x Rate
Interest = $3000 x 0.025
Interest = $75