Asked by beto

Evelyn opened a savings account that pays 7.5% simple interest. She deposited $450.how much interest will evelyn earn after 3 yeas
Answered by drwls
How frequently is the interest compounded? If only once a year, then the account value after 3 years is
450*(1.075)^3 = $ 559.03
Answered by Steve
If it's simple interest, it just grows by 450*.075 = $33.75 per year.
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