Edward deposited $6,000 into a savings account 5 years ago. The simple interest rate is 3%. How much money did Edward earn in in
terest?
1 answer:
Answer:
$900
Step-by-step explanation:
3% of 6,000 is 180
so, he earns $180 per annum
5 YEARS LATER
he has been earning $180 every year, so,
180+ 180+ 180+ 180+ 180, or 180*5
$900
Hope this helps!
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