Math  /  Numbers & Operations

Question4. Simple Interest: You invest $1,200\$ 1,200 in a savings account that earns 4%4 \% simple interest per year. How much interest will you earn in 3 years?

Studdy Solution
Perform the multiplication: I=1200×0.04×3=1200×0.12=144 I = 1200 \times 0.04 \times 3 = 1200 \times 0.12 = 144
The interest earned in 3 years is:
$144\boxed{\$144}

View Full Solution - Free
Was this helpful?

Studdy solves anything!

banner

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

ParentsInfluencer programContactPolicyTerms
TwitterInstagramFacebookTikTokDiscord