Question

Tamara invested 15000 in an account that pays 4% annual simple interest.tamara will not make any additional deposits or withdrawals .how much interest will Tamara earn on her investment at the end of 3 years

Answer 1

You multiply 15,000 by 0.04 that gives you 600 per year. You need to multiply 600 by 3 to get the answer =1,800.

Answer 2

So just find the rate and the principal and the time then you multiply all of them together but first you need to divide the rate by 100 then you can multiply all of them and you will get 1800