Question

Edward deposited ​$5,500 into a savings account 3 years ago. The simple interest rate is 3​%. How much money did Edward earn in​ interest

Answer 1

Im pretty sure he earned 495 in interest, because you take 5,500 time .03 (from the three percent) and you get 165- then multiply by three because of the three years (495)

Answer 2

I think the answer could be 8,000 I’m not good at explaining things but if you solve it it’s 8,000