Question

Find the simple interest on $5,000 at 4% interest for 3 years.

Answer 1

4% of 5000 is 200. 200 per year for 3 years would be $600. Hope this helps! :)

Answer 2

Answer:

Interest = $600

Explanation:

I = p r t

I = (5,000)(.04)(3) {multiply}

I = 600

Simple interest = $600