Naooomii Naooomii

17-11-2014
Mathematics

Answered

if you deposit $3000 in a savings account that earns simple interest at the rate of 2.5% per year, how much interest will you have earned after 4 years?

Answer :

SlowZasob SlowZasob

18-11-2014

Firstly we need to find out what's 2.5% from $3000:

3000 * 2.5% =
= 3000 * 2.5/100 =
= 3000 * 25/1000 =
= 3 * 25 =
= 75 [dollars]

It means you will earn $75 dollars of interest annualy. After 4 years you will earn:

4 * $75 = $300

Answer Link

Other Questions

what are 3 nonequivalent fractions with values between the square root of 56 and the square root of 58

whats the thesis statement for the peaceful protest

How did the potato famine affect Irish emigration They switched to pasta Most of the Irish went on low carbohydrate diets Over a million people died and emigra

how are quadratic equations different from linear equations

What is a bananan

How does groundwater become polluted

what figure of speech is the saying You snore louder than a freight train a Metaphor b Personification c Simile d Hyperbole

which explains why cloudy nights tend to be warmer than clear nights

What is a tough rigid outer covering that protects some cells and gives them shape

What is 51 divided by 3 A 17 B 25 C 24 D 21