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3 years ago

Mr. Nichols put $1,200 in a savings account at a local bank. The simple annual interest rate was 5%. How much interest did his a

ccount earn in 3 years?

Mathematics

1 answer:

satela [25.4K]3 years ago

8 0

$\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$1200\\ r=rate\to 5\%\to \frac{5}{100}\to &0.05\\ t=years\to &3 \end{cases} \\\\\\ I=(1200)(0.05)(3)\implies I=180$

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Answer:

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Step-by-step explanation:

Given:

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The friend gave $x$ five dollar bills and $y$ ten dollar bills and the friend gave $9$ bills in all.

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3 years ago

Dan invests £1000 into his bank account. He receives 10% per year simple interest. How much will Dan have after 2 years? Give yo

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