Seudónimo Seudónimo

29-08-2017
Mathematics

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suppose cho deposits $200 into a bank account for 3 years. the actual interest rate is 5%.Find the simple interest earned

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jahnays16 jahnays16

29-08-2017

its 30. hope I helped

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roubisonbrook roubisonbrook

29-08-2017

Assuming that the interest rate is annual, the answer is 30. 200 dollars divided by 100% is 2 dollars. 2 dollars is 1% of the whole. 5 % is 2 multiplied by 5. So that's 10 dollars per year, times 3 years is 30.

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