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

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Ian will earn ​$
  
enter your response here in interest in one year

Answer 1

Ian will earn $75 in interest in one year.

Calculation:
Interest = Principal x Rate
Interest = $3000 x 0.025
Interest = $75