Question

Bianca deposits $3,000 in a savings acct earning 4.25% simple interest per year.

Answer 1

Answer:

$637.50

Step-by-step explanation:

P = $3000

t= 5years

r = 4.25% per annum

Interest = (p×r×t)/100

= (3000×4.25×5)/100

= $637.50