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

Question

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] · Answer 1 · 2022-03-02T15:32:44+03:00

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] · Answer 2 · 2022-03-02T16:59:10+03:00

tiny-mole [99]3 years ago

7 0

Answer:

Step-by-step explanation:

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