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kaheart [24]
3 years ago
7

Jose earns $400 during the summer. He deposits it in an account that pays simple interest at a rate of 3% per year. Which equati

on can you use to find the amount of simple interest that Jose earns in 1 year?
Mathematics
2 answers:
a_sh-v [17]3 years ago
8 0

Answer:

12

Step-by-step explanation:

Since this is simple interest the equation will be P*T*R=I  T=time which is 1 year. P=money invested or borrowed  (aka princable) which is 400$. R=Annual rate is 3% per year and I= Interest after the number of years (aka answer) Hope this helps :)

tiny-mole [99]3 years ago
7 0

Answer:

<em>I = 400 x 0.03 x 1</em>

Step-by-step explanation:

$400 is the principal, 0.03 is the decimal value for the annual rate, and the time is 1 year.

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