9. Sarah saves $200 in her bank account for 3 years at a 5% interest rate. How much interest does she earn?
2 answers:
Answer:
$30
Step-by-step explanation:
Assuming this is an annual compound with a simple interest rate. the formula we can use is A=P(rt).
P=200
r=0.05
t=3
0.05*3=0.15
200*0.15=30
She earned $30
Answer:
The amount of interest she earns is: $30
Step-by-step explanation:
Given
- Interest rate r = 5% or 5/100 = 0.05
To determine
Interst I = ?
Using the equation to determine the interest amount

substitute P = 200, r = 0.05 and r = 3

$
Therefore, the amount of interest she earns is: $30
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