Lillian has $900 in a savings account that earns 6% interest per year. The interest is not compounded. How much interest will sh
e earn in 3 years?
2 answers:
Answer:
$162
Step-by-step explanation:
Interest (non-compounding) = principal x rate x time (in years)
I = 900(.06)(3)
I = 162
Answer:
$162
Step-by-step explanation:
if the interest is not compounded, its a simple interest.
simple interest formula = (PRT)/100 ......where p is the amount of money, r is rate of interest and t is time
using the formula : ($900 * 6% * 3 years)/100
: $162
∵ Lillian earns $162 in 3 years.
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