If you invest $500 at a simple interest rate of 3% and if you invest that money for 6 years how much interest will you earn
2 answers:
Answer: $597.03
Step-by-step explanation: First you would find what 3% of 500 is (15) and then add it on to 500. This would be the first year. Then you would see what 3% of the new number is (15.45) and add it to the original value. every time you preform this action one year passes. Do this 4 more times and you have your answer. Here is a table I made
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