Question

Dominica $2000 for 3years at an interest rate of 7% how much interest did she earn on her money?​

Answer 1

Answer:

$420

Step-by-step explanation:

The formula for simple interest is i = prt, where p is the principal, r is the annual interest rate expressed as a decimal fraction, and t is the number of years.

Here p = $2,000, r = 0.07 and t = 3 yr, and so

i = ($2,000)(0.07)(3) = $420 was the amount of interest earned.