Answer:
$360
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
[tex]I = Prt[/tex]
P = initial balance
r = annual interest rate
t = time
First, lets change 3% into a decimal:
3% -> [tex]\frac{3}{100}[/tex] -> 0.03
Now, plug in the values:
[tex]I=800(0.03)(15)[/tex]
[tex]I=360[/tex]
The interest earned will be $360.
