c is not right.
Interest = principle times rate times time
I = 540 * 0.045 * 3
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?
3 answers
put this in your google search engine:
540( 1.045)^3 -540=
540( 1.045)^3 -540=
about 73
1 answer