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3 years ago

1. Marie deposits $125 in a savings account

Mathematics

1 answer:

slava [35]3 years ago

3 0

Answer:

Step-by-step explanation:

The formula for simple interest is

I = Prt

where I is the interest earned, P is the initial deposit, r is the rate in decimal form, and t is the time in years. For us,

I = 125(.03)(3) which gives us an interest amount of

I = 11.25

To find out how much money she has total after that interest builds up, we add that interest amount to the initial investement amount to get

125 + 11.25 = 136.25

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